Kovitz Investment Group Partners LLC Acquires 21,091 Shares of Crown Castle Inc. $CCI

Key Points

• Kovitz Investment Group Partners LLC significantly increased its stake in Crown Castle Inc. by 229.9% during the first quarter, now holding a total of 30,264 shares valued at approximately $3.15 million.
• Several analysts have recently raised their target prices for Crown Castle, with estimates ranging from $114.00 to $125.00, and the stock currently holds a consensus rating of "Moderate Buy."
• Crown Castle announced a quarterly dividend of $1.0625 per share, translating to an annualized dividend yield of 4.1%, with the payment scheduled for September 30th.

Kovitz Investment Group Partners LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 229.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 30,264 shares of the real estate investment trust's stock after acquiring an additional 21,091 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Crown Castle were worth $3,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CCI. Iron Horse Wealth Management LLC bought a new stake in Crown Castle in the first quarter worth $26,000. Centerpoint Advisors LLC purchased a new position in Crown Castle in the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Crown Castle in the first quarter valued at approximately $26,000. Stone House Investment Management LLC purchased a new stake in shares of Crown Castle during the first quarter valued at approximately $27,000. Finally, American National Bank & Trust bought a new position in shares of Crown Castle in the first quarter worth approximately $29,000. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. UBS Group upped their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a report on Friday, July 25th. Raymond James Financial restated a "strong-buy" rating and issued a $124.00 price objective (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $115.00 to $120.00 in a research report on Tuesday. 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 research note on Friday, July 25th. Finally, Bank of America assumed coverage on Crown Castle in a report on Monday, May 19th. They set a "buy" rating and a $115.00 price target for the company. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Trading Up 0.8%

NYSE:CCI traded up $0.8550 during mid-day trading on Friday, reaching $103.6550. The company's stock had a trading volume of 1,101,597 shares, compared to its average volume of 3,221,136. The stock has a market cap of $45.14 billion, a P/E ratio of -9.72, a PEG ratio of 0.78 and a beta of 0.89. The firm's fifty day moving average price is $103.76 and its two-hundred day moving average price is $100.55. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The firm 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 business's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period 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. Analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio is -39.83%.

About Crown Castle

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.