Lecap Asset Management Ltd. Takes Position in Crown Castle Inc. $CCI

Key Points

• Lecap Asset Management Ltd. acquired a new stake in Crown Castle Inc. by purchasing 28,117 shares, valued at approximately $2.89 million, making it the 6th largest position in their portfolio.
• Crown Castle's recent earnings report showed an EPS of $1.02, exceeding expectations, although the company experienced a 4.2% decline in quarterly revenue year-over-year.
• The company declared a quarterly dividend of $1.0625 per share, reflecting a 4.4% dividend yield, despite a negative payout ratio of -39.83%.

Lecap Asset Management Ltd. bought a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 28,117 shares of the real estate investment trust's stock, valued at approximately $2,888,000. Crown Castle accounts for about 1.0% of Lecap Asset Management Ltd.'s portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in CCI. CHICAGO TRUST Co NA increased its holdings in shares of Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after purchasing an additional 104 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 107 shares in the last quarter. Abel Hall LLC increased its holdings in shares of Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock valued at $666,000 after purchasing an additional 115 shares in the last quarter. Beacon Capital Management LLC increased its holdings in Crown Castle by 36.6% in the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in Crown Castle by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Down 0.8%

Shares of CCI opened at $95.74 on Thursday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $119.56. The firm's fifty day moving average is $100.05 and its two-hundred day moving average is $101.26. The stock has a market cap of $41.69 billion, a PE ratio of -8.97, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95.

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

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle's payout ratio is presently -39.83%.

Analysts Set New Price Targets

CCI has been the subject of several recent analyst reports. UBS Group boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle in a report on Wednesday. Barclays boosted their price target on shares of Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. Finally, KeyCorp lowered their target price on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $115.76.

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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