Goldstone Financial Group LLC Acquires 2,679 Shares of Crown Castle Inc. $CCI

Key Points

• Goldstone Financial Group LLC increased its stake in Crown Castle Inc. by 43.0% during the 2nd quarter, acquiring an additional 2,679 shares for a total holding worth $917,000.
• Crown Castle reported $1.02 earnings per share for the last quarter, exceeding expectations, but experienced a 4.2% decline in revenue compared to the previous year.
• The company announced a quarterly dividend of $1.0625 per share, representing a 4.5% dividend yield, set to be paid on September 30th.

Goldstone Financial Group LLC raised its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 43.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,910 shares of the real estate investment trust's stock after acquiring an additional 2,679 shares during the period. Goldstone Financial Group LLC's holdings in Crown Castle were worth $917,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. CHICAGO TRUST Co NA boosted its stake in 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 acquiring an additional 104 shares in the last quarter. Harbour Investments Inc. boosted its stake in Crown Castle by 18.9% in the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 107 shares in the last quarter. Abel Hall LLC boosted its stake in Crown Castle by 1.8% in the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock valued at $666,000 after acquiring an additional 115 shares in the last quarter. Beacon Capital Management LLC boosted its stake in Crown Castle by 36.6% in the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Crown Castle by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock valued at $3,894,000 after acquiring an additional 120 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $95.42 on Monday. The firm has a fifty day moving average price of $102.67 and a 200 day moving average price of $101.51. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a market cap of $41.55 billion, a PE ratio of -8.94, a price-to-earnings-growth 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 (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the company posted $1.62 earnings per share. The firm's revenue 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, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $1.0625 per share. 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 (DPR) is -39.83%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CCI shares. KeyCorp raised their target price on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Royal Bank Of Canada lifted their price objective on shares of Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $115.00 to $120.00 in a research note on Tuesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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