Point72 Europe London LLP Makes New $10.52 Million Investment in Crown Castle Inc. $CCI

Key Points

• Point72 Europe London LLP has acquired a new stake in Crown Castle Inc., purchasing 100,939 shares valued at approximately $10.5 million during Q1.
• Crown Castle recently reported a quarterly earnings per share (EPS) of $1.02, exceeding expectations, but experienced a revenue decline of 4.2% year-over-year.
• The company declared a quarterly dividend of $1.0625 per share, translating to an annual yield of 4.3%, with a record date of September 15th.

Point72 Europe London LLP purchased a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 100,939 shares of the real estate investment trust's stock, valued at approximately $10,521,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $26,000. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $27,000. Finally, American National Bank & Trust acquired a new position in shares of Crown Castle in the first quarter valued at approximately $29,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Down 1.0%

Shares of NYSE:CCI traded down $1.02 on Wednesday, reaching $97.08. 3,401,797 shares of the company's stock were exchanged, compared to its average volume of 2,844,785. The company has a fifty day moving average of $103.81 and a 200-day moving average of $101.21. 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 $42.28 billion, a price-to-earnings ratio of -9.10, a PEG ratio of 0.75 and a beta of 0.92.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate 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 prior year, the company posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid 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 is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CCI. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Scotiabank upped their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, KeyCorp upped their price target on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of "Moderate Buy" and an average target price 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.