DoubleLine ETF Adviser LP Has $2.62 Million Holdings in Crown Castle Inc. $CCI

Key Points

• DoubleLine ETF Adviser LP reduced its stake in Crown Castle Inc. by 19.5%, selling 6,077 shares to hold 25,167 shares valued at approximately $2.63 million.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, with a dividend yield of 4.4% and a negative payout ratio of -39.83%.
• Analysts have diverse ratings for Crown Castle, with a consensus rating of Moderate Buy and an average price target of $116.41.

DoubleLine ETF Adviser LP lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 19.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,167 shares of the real estate investment trust's stock after selling 6,077 shares during the quarter. DoubleLine ETF Adviser LP's holdings in Crown Castle were worth $2,623,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Crown Castle by 10.1% during the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Crown Castle by 2.6% in the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust's stock worth $2,229,260,000 after acquiring an additional 538,049 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Crown Castle by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust's stock worth $624,584,000 after acquiring an additional 72,511 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after acquiring an additional 2,072,198 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Crown Castle by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust's stock valued at $543,264,000 after buying an additional 90,371 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Trading Up 0.3%

CCI stock traded up $0.26 during trading on Tuesday, reaching $94.14. 3,230,942 shares of the stock were exchanged, compared to its average volume of 3,290,052. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a market capitalization of $40.99 billion, a P/E ratio of -8.83, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92. The stock has a 50 day simple moving average of $103.34 and a 200-day simple moving average of $101.45.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data 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 company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The company'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. Equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle's payout ratio is -39.83%.

Analyst Ratings Changes

CCI has been the subject of several research analyst reports. UBS Group boosted their price objective on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a report on Friday, July 25th. Scotiabank raised their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and increased their target price for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Finally, KeyCorp increased their target price on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Crown Castle currently has an average rating of "Moderate Buy" and an average 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.