Janney Montgomery Scott LLC Has $23.94 Million Holdings in Crown Castle Inc. $CCI

Key Points

• Janney Montgomery Scott LLC reduced its holdings in Crown Castle Inc. by 8.6% in Q2, retaining 233,069 shares valued at approximately $23.94 million.
• Crown Castle reported Q2 earnings of $1.02 per share, surpassing analysts' expectations, despite a 4.2% year-over-year decline in revenue.
• The company declared a quarterly dividend of $1.0625 per share, representing a 4.4% yield, with a payout ratio of -39.83%.

Janney Montgomery Scott LLC lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 233,069 shares of the real estate investment trust's stock after selling 21,888 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.05% of Crown Castle worth $23,943,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CWA Asset Management Group LLC increased its position in Crown Castle by 9.0% during the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock worth $278,000 after buying an additional 219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust's stock valued at $5,707,000 after purchasing an additional 5,144 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock valued at $3,665,000 after purchasing an additional 4,276 shares during the last quarter. Legacy Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $262,000. Finally, Everhart Financial Group Inc. acquired a new position in shares of Crown Castle in the first quarter valued at approximately $307,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Trading Down 0.8%

Shares of CCI stock opened at $95.74 on Thursday. The stock has a market cap of $41.69 billion, a P/E ratio of -8.97, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. The stock has a 50 day simple moving average of $100.05 and a 200 day simple moving average of $101.26. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $119.56.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (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 business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The firm'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. Analysts forecast 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.4%. Crown Castle's dividend payout ratio is presently -39.83%.

Analysts Set New Price Targets

CCI has been the topic of several research reports. KeyCorp decreased their target price on Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. UBS Group upped their target price on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Wolfe Research raised Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research report on Monday, September 22nd. Finally, JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $115.82.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.