CX Institutional increased its position in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,742 shares of the real estate investment trust’s stock after purchasing an additional 266 shares during the period. CX Institutional’s holdings in Crown Castle were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. boosted its holdings in shares of Crown Castle by 20.9% in the 2nd quarter. Global X Japan Co. Ltd. now owns 1,561 shares of the real estate investment trust’s stock valued at $160,000 after purchasing an additional 270 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Crown Castle by 0.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 20,486 shares of the real estate investment trust’s stock valued at $2,105,000 after buying an additional 185 shares during the last quarter. Bell Bank grew its position in shares of Crown Castle by 3.8% in the 2nd quarter. Bell Bank now owns 71,445 shares of the real estate investment trust’s stock valued at $7,340,000 after buying an additional 2,609 shares during the last quarter. IFM Investors Pty Ltd grew its position in shares of Crown Castle by 4.0% in the 2nd quarter. IFM Investors Pty Ltd now owns 110,133 shares of the real estate investment trust’s stock valued at $11,314,000 after buying an additional 4,215 shares during the last quarter. Finally, Triangle Securities Wealth Management bought a new position in shares of Crown Castle in the 2nd quarter worth about $220,000. Institutional investors own 90.77% of the company’s stock.
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Wall Street Analyst Weigh In
A number of analysts recently commented on CCI shares. Royal Bank Of Canada boosted their target price on Crown Castle from $112.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, August 7th. UBS Group boosted their target price on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. KeyCorp reduced their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. increased their target price on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $116.06.
View Our Latest Report on CCI
Crown Castle Stock Performance
Shares of CCI stock opened at $94.34 on Wednesday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $119.56. The company has a market capitalization of $41.08 billion, a PE ratio of -8.84, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. The business’s fifty day moving average is $101.42 and its 200 day moving average is $101.39.
Crown Castle (NYSE:CCI – Get Free Report) last released 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 for the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm’s revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, sell-side analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.
Crown Castle Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid 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 -39.83%.
About Crown Castle
(Free Report)
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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