Kestra Investment Management LLC Increases Position in Crown Castle Inc. $CCI

Key Points

• Kestra Investment Management LLC increased its stake in Crown Castle Inc. (NYSE: CCI) by 244.9% during the first quarter, owning a total of 11,594 shares valued at approximately $1.2 million.
• Crown Castle's recent quarterly earnings report showed an earnings per share (EPS) of $1.02, surpassing analyst expectations of $1.00, although revenue declined 4.2% year-over-year.
• The company announced a quarterly dividend of $1.0625 per share, yielding 4.4%, with the ex-dividend date set for September 15th.

Kestra Investment Management LLC increased its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 244.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,594 shares of the real estate investment trust's stock after purchasing an additional 8,232 shares during the quarter. Kestra Investment Management LLC's holdings in Crown Castle were worth $1,208,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. CWA Asset Management Group LLC increased its holdings in shares of Crown Castle by 9.0% in the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock valued at $278,000 after purchasing an additional 219 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Crown Castle by 13.9% in the 1st 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 in the last quarter. Legacy Advisors LLC purchased a new position in shares of Crown Castle in the 1st quarter valued at about $262,000. Everhart Financial Group Inc. purchased a new position in shares of Crown Castle in the 1st quarter valued at about $307,000. Finally, Inspire Trust Co. N.A. increased its holdings in shares of Crown Castle by 25.0% in the 1st quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust's stock valued at $2,085,000 after purchasing an additional 4,000 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.5%

NYSE:CCI opened at $95.92 on Monday. The firm has a 50-day moving average price of $103.52 and a two-hundred day moving average price of $101.43. 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 $41.77 billion, a P/E ratio of -8.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted 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. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company's revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research analyst reports. BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and increased their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Wells Fargo & Company upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $105.00 to $125.00 in a report on Thursday, July 24th. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Raymond James Financial restated a "strong-buy" rating and set a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Finally, Scotiabank raised their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.41.

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.

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