Wealth Enhancement Advisory Services LLC Sells 124,743 Shares of Crown Castle Inc. $CCI

Key Points

• Wealth Enhancement Advisory Services LLC decreased its stake in Crown Castle Inc. by 48.3% during the second quarter, ending up with holdings valued at $13.75 million.
• Several institutional investors, including Tidal Investments LLC and Two Sigma Investments LP, have recently increased their stakes in Crown Castle, reflecting a growing interest in the company.
• Crown Castle announced a quarterly dividend of $1.0625 per share with a yield of 4.5%, set to be paid on September 30th to shareholders of record as of September 15th.

Wealth Enhancement Advisory Services LLC lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 48.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,556 shares of the real estate investment trust's stock after selling 124,743 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Crown Castle were worth $13,746,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings 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 period. Wellington Management Group LLP lifted its stake in shares of Crown Castle by 2.6% in the 1st 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 acquiring an additional 538,049 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of 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 valued at $624,584,000 after acquiring an additional 72,511 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Crown Castle by 60.9% during 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 acquiring an additional 2,072,198 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Crown Castle by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust's stock valued at $543,264,000 after purchasing an additional 90,371 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. UBS Group boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a report on Friday, July 25th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $116.06.

Crown Castle Stock Up 0.6%

Shares of CCI stock traded up $0.59 during trading hours on Monday, reaching $94.19. 3,935,669 shares of the company's stock were exchanged, compared to its average volume of 3,904,877. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $119.56. The stock has a market capitalization of $41.02 billion, a P/E ratio of -8.83, a P/E/G ratio of 0.71 and a beta of 0.92. The business has a fifty day moving average price of $101.75 and a 200-day moving average price of $101.47.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results 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. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Crown Castle's revenue was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

About Crown Castle

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.