Crown Castle Inc. $CCI Stake Raised by Taylor Frigon Capital Management LLC

Key Points

• Taylor Frigon Capital Management LLC increased its holdings in Crown Castle Inc. by 58.1% in the 2nd quarter, owning 22,985 shares worth approximately $2.36 million.
• A number of research firms have upgraded Crown Castle’s stock ratings, with Wells Fargo raising its price target from $105 to $125 and UBS increasing its target from $124 to $127.
• Crown Castle reported $1.02 earnings per share for Q2, exceeding expectations, despite a 4.2% decline in revenue compared to the previous year.

Taylor Frigon Capital Management LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 58.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,985 shares of the real estate investment trust's stock after buying an additional 8,446 shares during the period. Taylor Frigon Capital Management LLC's holdings in Crown Castle were worth $2,361,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Versant Capital Management Inc increased its holdings in shares of Crown Castle by 95.2% during the first quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust's stock valued at $43,000 after purchasing an additional 199 shares during the period. GAMMA Investing LLC grew its position in Crown Castle by 12,290.3% in the 1st quarter. GAMMA Investing LLC now owns 601,303 shares of the real estate investment trust's stock valued at $62,674,000 after buying an additional 596,450 shares in the last quarter. Rothschild Investment LLC increased its stake in Crown Castle by 1.5% during the 1st quarter. Rothschild Investment LLC now owns 12,375 shares of the real estate investment trust's stock valued at $1,290,000 after buying an additional 180 shares during the period. Rhumbline Advisers raised its position in shares of Crown Castle by 3.8% during the 1st quarter. Rhumbline Advisers now owns 934,887 shares of the real estate investment trust's stock worth $97,443,000 after buying an additional 34,394 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in shares of Crown Castle during the 1st quarter worth about $208,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCI. JPMorgan Chase & Co. raised their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Scotiabank lifted their price target on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Finally, UBS Group lifted their target price on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and a consensus target price of $115.82.

Crown Castle Trading Up 1.4%

CCI opened at $95.30 on Monday. The stock has a fifty day moving average price of $100.82 and a 200 day moving average price of $101.38. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $119.56. The stock has a market cap of $41.50 billion, a price-to-earnings ratio of -8.93, a PEG ratio of 0.72 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The business's revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, 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. Shareholders of record on Monday, September 15th will be paid a $1.0625 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.5%. Crown Castle's payout ratio is -39.83%.

About Crown Castle

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.