Prime Capital Investment Advisors LLC Trims Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Prime Capital Investment Advisors LLC reduced its stake in Crown Castle Inc. by 31.0% during the second quarter, holding 6,366 shares worth approximately $654,000 afterward.
• Several analysts have upgraded their ratings for Crown Castle, with targets ranging from $114.00 to $127.00, reflecting a consensus rating of "Moderate Buy" for the stock.
• Crown Castle recently announced a quarterly dividend of $1.0625 per share, representing a yield of 4.4%, with the dividend payout ratio currently at -39.83%.

Prime Capital Investment Advisors LLC trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 31.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,366 shares of the real estate investment trust's stock after selling 2,857 shares during the period. Prime Capital Investment Advisors LLC's holdings in Crown Castle were worth $654,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Crown Castle by 10.1% in the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the last quarter. Wellington Management Group LLP grew its holdings in Crown Castle by 2.6% in the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust's stock worth $2,229,260,000 after purchasing an additional 538,049 shares during the period. Dimensional Fund Advisors LP grew its holdings in Crown Castle by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust's stock worth $624,584,000 after purchasing an additional 72,511 shares during the period. Deutsche Bank AG grew its holdings in Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Crown Castle by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust's stock worth $543,264,000 after buying an additional 90,371 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCI. Wolfe Research upgraded shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Monday, September 22nd. JPMorgan Chase & Co. upped their target price on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Wells Fargo & Company upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, UBS Group upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Crown Castle currently has a consensus rating of "Moderate Buy" and an average price target of $115.76.

Crown Castle Price Performance

Shares of NYSE CCI opened at $96.60 on Friday. The firm has a fifty day moving average price of $98.40 and a 200-day moving average price of $100.88. The stock has a market cap of $42.07 billion, a PE ratio of -9.05, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.89.

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 during 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 company's revenue for the quarter was down 4.2% compared to the same quarter last year. 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. On average, research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

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

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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