Turtle Creek Wealth Advisors LLC Takes Position in Crown Castle Inc. $CCI

Key Points

• Turtle Creek Wealth Advisors LLC has acquired a new stake in Crown Castle Inc., purchasing 3,425 shares valued at about $352,000 during the 2nd quarter.
• A variety of institutional investors increased their holdings in Crown Castle, with Vanguard Group Inc. raising its position by 10.1% and Price T Rowe Associates Inc. increasing by 144.5% in the first quarter.
• Crown Castle recently declared a quarterly dividend of $1.0625, resulting in an annualized dividend yield of 4.3%, with stock performance showing a 12-month low of $84.20 and a high of $115.76.

Turtle Creek Wealth Advisors LLC bought a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,425 shares of the real estate investment trust's stock, valued at approximately $352,000.

Several other institutional investors have also modified their holdings of CCI. Vanguard Group Inc. grew its position in shares of 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 valued at $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Nuveen LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $305,876,000. Deutsche Bank AG grew its position in shares of 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 valued at $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Crown Castle by 144.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock valued at $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Crown Castle in the first quarter valued at about $149,661,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Scotiabank boosted 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. Weiss Ratings restated a "sell (d)" rating on shares of Crown Castle in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle and gave the stock an "outperform" rating in a research report on Wednesday, October 1st. JMP Securities restated 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, 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 research report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Crown Castle currently has an average rating of "Moderate Buy" and a consensus price target of $114.44.

Crown Castle Price Performance

Shares of CCI stock opened at $98.05 on Friday. The firm's 50-day moving average is $97.54 and its two-hundred day moving average is $100.71. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The company has a market capitalization of $42.70 billion, a PE ratio of -9.19, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results 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. The company 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%. Crown Castle's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, September 15th. 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.

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