Linscomb Wealth Inc. Has $5.90 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Key Points

• Linscomb Wealth Inc. increased its holdings in Crown Castle Inc. by 4.8%, owning 56,559 shares worth approximately $5.9 million as of their latest SEC filing.
• Crown Castle recently reported earnings per share (EPS) of $1.02 for the last quarter, exceeding consensus estimates, despite a negative net margin of 85.54%.
• The company announced a quarterly dividend of $1.0625 per share, reflecting an annualized dividend yield of 4.1%, with the ex-dividend date set for September 15th.

Linscomb Wealth Inc. grew its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 4.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,559 shares of the real estate investment trust's stock after buying an additional 2,577 shares during the period. Linscomb Wealth Inc.'s holdings in Crown Castle were worth $5,895,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC acquired a new position in Crown Castle during the 1st quarter valued at approximately $26,000. Iron Horse Wealth Management LLC acquired a new position in Crown Castle during the 1st quarter valued at approximately $26,000. American National Bank & Trust acquired a new position in Crown Castle during the 1st quarter valued at approximately $29,000. Capital Advisors Ltd. LLC boosted its position in Crown Castle by 62.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 133 shares during the period. Finally, Vermillion Wealth Management Inc. acquired a new position in Crown Castle during the 4th quarter valued at approximately $38,000. Institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on CCI. KeyCorp boosted their price objective on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Citigroup boosted their price objective on Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. New Street Research raised Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, UBS Group lifted their target price on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $116.24.

Crown Castle Price Performance

Shares of CCI traded down $0.75 during midday trading on Thursday, reaching $101.08. The stock had a trading volume of 2,249,103 shares, compared to its average volume of 3,247,423. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm's 50 day moving average price is $103.49 and its 200-day moving average price is $100.04. The company has a market capitalization of $44.02 billion, a P/E ratio of -9.47, a P/E/G ratio of 0.77 and a beta of 0.89.

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 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $1.62 EPS. The company's quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.2%. Crown Castle's payout ratio is -39.83%.

Crown Castle Company 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.