Belpointe Asset Management LLC Sells 18,755 Shares of Crown Castle Inc. $CCI

Key Points

• Belpointe Asset Management LLC significantly reduced its stake in Crown Castle by 90.3%, totaling 2,012 shares after selling 18,755 during the 1st quarter.
• Crown Castle reported earnings of $1.02 per share, slightly above analysts' expectations, but experienced a 4.2% decline in revenue year-over-year.
• The company has declared a quarterly dividend of $1.0625 per share, resulting in an annualized yield of 4.5% for shareholders.

Belpointe Asset Management LLC lessened its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 90.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,012 shares of the real estate investment trust's stock after selling 18,755 shares during the quarter. Belpointe Asset Management LLC's holdings in Crown Castle were worth $210,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle during the first quarter worth about $26,000. Iron Horse Wealth Management LLC bought a new stake in shares of Crown Castle during the first quarter valued at approximately $26,000. Centerpoint Advisors LLC purchased a new position in shares of Crown Castle during the first quarter valued at approximately $26,000. Stone House Investment Management LLC purchased a new position in shares of Crown Castle during the first quarter valued at approximately $27,000. Finally, Rise Advisors LLC purchased a new position in Crown Castle in the first quarter worth $28,000. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CCI shares. KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $115.00 to $120.00 in a research note on Tuesday, August 19th. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and set a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Finally, Barclays increased their target price on Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, Crown Castle has an average rating of "Moderate Buy" and an average price target of $116.18.

Crown Castle Stock Up 0.7%

NYSE:CCI traded up $0.64 during midday trading on Friday, hitting $93.60. The stock had a trading volume of 5,261,530 shares, compared to its average volume of 3,761,189. The company has a market capitalization of $40.76 billion, a price-to-earnings ratio of -8.77, a PEG ratio of 0.71 and a beta of 0.92. Crown Castle Inc. has a one year low of $84.20 and a one year high of $119.56. The stock has a 50-day moving average of $101.75 and a 200 day moving average of $101.38.

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 (EPS) for the quarter, topping 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 company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $1.62 EPS. The firm's quarterly revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle's payout ratio is presently -39.83%.

Crown Castle 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.