Raymond James Financial Inc. Has $100.21 Million Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Raymond James Financial Inc. reduced its stake in Crown Castle Inc. by 8.3% during the first quarter, holding approximately 0.22% of the company's stock by the end of the period.
• Several analysts have upgraded their ratings on Crown Castle, with UBS raising its price target from $124.00 to $127.00 and Wells Fargo upgrading from "equal weight" to "overweight".
• Crown Castle announced a quarterly dividend of $1.0625 per share, which translates to an annualized yield of 4.2% and is set to be paid on September 30th.

Raymond James Financial Inc. lowered its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 8.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 961,390 shares of the real estate investment trust's stock after selling 87,165 shares during the quarter. Raymond James Financial Inc. owned approximately 0.22% of Crown Castle worth $100,206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CCI. Renaissance Technologies LLC purchased a new position in Crown Castle during the 4th quarter valued at about $2,442,000. XTX Topco Ltd purchased a new position in Crown Castle during the 4th quarter valued at about $424,000. Marshall Wace LLP grew its stake in Crown Castle by 5,149.8% during the 4th quarter. Marshall Wace LLP now owns 115,495 shares of the real estate investment trust's stock valued at $10,482,000 after acquiring an additional 113,295 shares in the last quarter. First Trust Advisors LP grew its stake in Crown Castle by 44.8% during the 4th quarter. First Trust Advisors LP now owns 164,322 shares of the real estate investment trust's stock valued at $14,914,000 after acquiring an additional 50,874 shares in the last quarter. Finally, Norinchukin Bank The grew its stake in Crown Castle by 10.6% during the 4th quarter. Norinchukin Bank The now owns 20,076 shares of the real estate investment trust's stock valued at $1,822,000 after acquiring an additional 1,922 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

Shares of NYSE CCI traded up $0.8630 during trading hours on Friday, reaching $103.6630. The stock had a trading volume of 2,387,772 shares, compared to its average volume of 3,229,556. The business's fifty day moving average is $103.76 and its two-hundred day moving average is $100.55. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a market cap of $45.14 billion, a price-to-earnings ratio of -9.72, a PEG ratio of 0.78 and a beta of 0.89.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The business's revenue was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio is presently -39.83%.

Analysts Set New Price Targets

Several research firms have weighed in on CCI. New Street Research raised Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. Barclays reduced their target price on Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a report on Monday. UBS Group upped their price target on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Scotiabank upped their price target on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $124.00 price target (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.41.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.