Westbourne Investments Inc. Purchases Shares of 3,891 Crown Castle Inc. $CCI

Key Points

• Westbourne Investments Inc. has made a new investment in Crown Castle Inc., purchasing 3,891 shares valued at approximately $406,000.
• Crown Castle's stock recently traded down by 0.2% to $94.29, with a market cap of $41.06 billion and a P/E ratio of -8.85.
• The company announced a quarterly dividend of $1.0625 per share, which represents a yield of 4.5% and reflects a dividend payout ratio of -39.83%.

Westbourne Investments Inc. bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,891 shares of the real estate investment trust's stock, valued at approximately $406,000.

A number of other large investors have also recently added to or reduced their stakes in CCI. Cresset Asset Management LLC boosted its position in Crown Castle by 88.7% during the fourth quarter. Cresset Asset Management LLC now owns 10,725 shares of the real estate investment trust's stock worth $973,000 after purchasing an additional 5,040 shares during the period. Janus Henderson Group PLC boosted its position in Crown Castle by 3.8% during the fourth quarter. Janus Henderson Group PLC now owns 64,672 shares of the real estate investment trust's stock worth $5,869,000 after purchasing an additional 2,396 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its position in Crown Castle by 4.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 5,345 shares of the real estate investment trust's stock worth $485,000 after purchasing an additional 211 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Crown Castle by 31.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,187 shares of the real estate investment trust's stock worth $18,702,000 after purchasing an additional 49,687 shares during the period. Finally, Meketa Capital LLC bought a new stake in Crown Castle during the fourth quarter worth approximately $813,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

Shares of NYSE CCI traded down $0.16 during trading hours on Friday, reaching $95.42. The stock had a trading volume of 2,929,959 shares, compared to its average volume of 3,650,974. The business's fifty day moving average is $102.67 and its two-hundred day moving average is $101.38. The company has a market cap of $41.55 billion, a price-to-earnings ratio of -8.94, a PEG ratio of 0.73 and a beta of 0.92. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

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, beating analysts' consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.Crown Castle's revenue 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. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio is presently -39.83%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCI. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Bank of America assumed coverage on Crown Castle in a report on Monday, May 19th. They set a "buy" rating and a $115.00 price target for the company. KeyCorp upped their price target on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.41.

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.