Emerald Investment Advisers LLC Invests $1.29 Million in Crown Castle Inc. $CCI

Key Points

• Emerald Investment Advisers purchased 17,034 Crown Castle shares worth approximately $1.29 million in the second quarter. Institutional investors collectively own 90.77% of the REIT.
• Crown Castle’s latest quarterly earnings missed estimates, with EPS of $0.22 versus the $0.39 consensus, while revenue declined 4.9% year over year to $1.01 billion.
• The company declared a quarterly dividend of $1.0625 per share, equivalent to a $4.25 annualized payout and a 5.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $95.13.

Emerald Investment Advisers LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,034 shares of the real estate investment trust's stock, valued at approximately $1,290,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Crown Castle during the second quarter worth approximately $3,326,154,000. Norges Bank purchased a new position in shares of Crown Castle in the 4th quarter valued at $594,670,000. Lazard Asset Management LLC raised its stake in shares of Crown Castle by 124.2% in the 4th quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust's stock valued at $1,034,013,000 after acquiring an additional 6,445,237 shares during the period. Deutsche Bank AG acquired a new position in shares of Crown Castle during the 2nd quarter valued at $429,341,000. Finally, Cohen & Steers Inc. lifted its holdings in shares of Crown Castle by 11.0% during the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust's stock valued at $3,536,214,000 after acquiring an additional 3,953,685 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Activity

In other news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the sale, the vice president directly owned 5,113 shares of the company's stock, valued at approximately $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.09% of the company's stock.

Crown Castle Trading Up 0.2%

Shares of CCI stock opened at $75.53 on Friday. The company has a market capitalization of $32.13 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The firm has a fifty day simple moving average of $77.86 and a 200-day simple moving average of $84.11. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $104.61.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.17). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.05 million. During the same period in the previous year, the business posted $0.67 earnings per share. Crown Castle's revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities research analysts predict that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle's dividend payout ratio (DPR) is currently 215.74%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays upped their price target on shares of Crown Castle from $91.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Truist Financial reduced their price objective on Crown Castle from $95.00 to $87.00 and set a "hold" rating on the stock in a research note on Tuesday, July 28th. Jefferies Financial Group decreased their target price on Crown Castle from $88.00 to $82.00 and set a "hold" rating for the company in a research report on Wednesday, July 15th. Finally, Citigroup reiterated a "market outperform" rating on shares of Crown Castle in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $95.13.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company's assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.

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