Wealthfront Advisers LLC Has $11.70 Million Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Wealthfront Advisers LLC cut its Crown Castle stake by 14.8% in the first quarter, selling 25,062 shares and leaving it with 143,921 shares worth about $11.7 million.
• Crown Castle’s latest earnings beat expectations, with EPS of $1.02 versus the $0.47 estimate and revenue of $1.01 billion, though quarterly revenue still declined 4.9% year over year.
• The stock currently has a Moderate Buy consensus rating, with an average price target of $98.52, while it also pays a quarterly dividend of $1.0625 per share, or a 5.4% yield.

Wealthfront Advisers LLC decreased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 143,921 shares of the real estate investment trust's stock after selling 25,062 shares during the period. Wealthfront Advisers LLC's holdings in Crown Castle were worth $11,702,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. United Asset Strategies Inc. raised its stake in Crown Castle by 2.5% during the fourth quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust's stock worth $438,000 after acquiring an additional 120 shares in the last quarter. Binnacle Investments Inc boosted its stake in shares of Crown Castle by 10.9% in the 3rd quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust's stock valued at $125,000 after purchasing an additional 127 shares in the last quarter. Applied Capital LLC FL grew its holdings in shares of Crown Castle by 0.9% during the 4th quarter. Applied Capital LLC FL now owns 15,269 shares of the real estate investment trust's stock valued at $1,357,000 after purchasing an additional 132 shares during the last quarter. Hilton Head Capital Partners LLC grew its holdings in shares of Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 134 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in shares of Crown Castle by 10.2% during the 1st quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust's stock valued at $121,000 after purchasing an additional 138 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Barclays raised their target price on shares of Crown Castle from $91.00 to $92.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Wells Fargo & Company reiterated an "equal weight" rating and set a $85.00 price target (down from $90.00) on shares of Crown Castle in a report on Monday, March 23rd. KeyCorp increased their price target on Crown Castle from $98.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Jefferies Financial Group raised their price objective on Crown Castle from $84.00 to $89.00 and gave the company a "hold" rating in a report on Tuesday, April 14th. Finally, Wolfe Research lowered Crown Castle from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat, Crown Castle currently has a consensus rating of "Moderate Buy" and an average price target of $98.52.

Crown Castle Stock Up 0.7%

NYSE CCI opened at $79.24 on Friday. The company has a market capitalization of $34.59 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $73.75 and a twelve month high of $115.76. The stock has a fifty day simple moving average of $85.66 and a 200 day simple moving average of $86.18.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $0.47 by $0.55. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.41 million. During the same period in the previous year, the business earned $1.10 EPS. The business's quarterly revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Research analysts expect that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, June 15th. Crown Castle's payout ratio is currently 175.62%.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company's assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.

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