Dakota Wealth Management Lowers Holdings in Crown Castle Inc. $CCI

Key Points

• Dakota Wealth Management reduced its holdings in Crown Castle Inc. by 34.8%, now owning 5,785 shares valued at $594,000 after selling 3,086 shares.
• Crown Castle reported an earnings per share (EPS) of $1.02 for the most recent quarter, exceeding expectations, while its revenue declined by 4.2% year-over-year.
• The company announced a quarterly dividend of $1.0625, yielding 4.5%, with the ex-dividend date set for September 15th.

Dakota Wealth Management decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 34.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,785 shares of the real estate investment trust's stock after selling 3,086 shares during the period. Dakota Wealth Management's holdings in Crown Castle were worth $594,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. CHICAGO TRUST Co NA boosted its holdings in shares of Crown Castle by 3.0% in the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 104 shares during the period. Harbour Investments Inc. lifted its holdings in Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after buying an additional 107 shares during the period. Abel Hall LLC lifted its holdings in Crown Castle by 1.8% during the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after buying an additional 115 shares during the period. Beacon Capital Management LLC lifted its holdings in Crown Castle by 36.6% during the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after buying an additional 120 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Crown Castle by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after buying an additional 120 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 1.4%

Shares of CCI opened at $95.30 on Monday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $119.56. The stock has a fifty day moving average price of $100.82 and a 200-day moving average price of $101.38. The firm has a market cap of $41.50 billion, a PE ratio of -8.93, a P/E/G ratio of 0.72 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The business's revenue for the quarter 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. As a group, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current 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 given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's dividend payout ratio is presently -39.83%.

Analyst Ratings Changes

A number of research firms have weighed in on CCI. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. 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 report on Tuesday, August 19th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada upped their target price on Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, Barclays upped their target price on Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Three investment 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.82.

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.

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