Lee Financial Co Takes $258,000 Position in Crown Castle Inc. $CCI

Key Points

• Lee Financial Co acquired a new position in Crown Castle Inc., purchasing 2,471 shares valued at approximately $258,000.
• Crown Castle reported a quarterly EPS of $1.02, beating analyst estimates, but experienced a 4.2% decline in revenue compared to the previous year.
• The company declared a quarterly dividend of $1.0625, reflecting a 4.2% yield with a payout ratio of -39.83%.

Lee Financial Co bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 2,471 shares of the real estate investment trust's stock, valued at approximately $258,000.

Several other institutional investors have also recently added to or reduced their stakes in CCI. Opal Wealth Advisors LLC bought a new position in Crown Castle during the 1st quarter worth approximately $26,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at approximately $26,000. Centerpoint Advisors LLC bought a new position in shares of Crown Castle in the first quarter valued at $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle during the first quarter worth $27,000. Finally, American National Bank & Trust acquired a new stake in Crown Castle in the first quarter valued at $29,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

NYSE CCI opened at $101.61 on Monday. The business's 50-day moving average is $103.56 and its 200 day moving average is $100.35. The stock has a market capitalization of $44.25 billion, a PE ratio of -9.52, a PEG ratio of 0.77 and a beta of 0.89. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 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 analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The company's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The firm 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 $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.2%. Crown Castle's dividend payout ratio is -39.83%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCI shares. JPMorgan Chase & Co. increased their target price on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. KeyCorp raised their price target 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. Citigroup lifted their price target on Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Scotiabank raised their target price on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, UBS Group lifted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and a consensus target price of $116.24.

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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