Naples Global Advisors LLC Cuts Stock Position in Crown Castle Inc. $CCI

Naples Global Advisors LLC decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 39,781 shares of the real estate investment trust’s stock after selling 1,519 shares during the period. Naples Global Advisors LLC’s holdings in Crown Castle were worth $4,087,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CWA Asset Management Group LLC grew its stake in shares of Crown Castle by 9.0% during the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Crown Castle by 10.2% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after acquiring an additional 5,144 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Crown Castle by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock worth $3,665,000 after acquiring an additional 4,276 shares during the last quarter. Legacy Advisors LLC purchased a new stake in shares of Crown Castle during the first quarter worth about $262,000. Finally, Everhart Financial Group Inc. purchased a new stake in shares of Crown Castle during the first quarter worth about $307,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of research analyst reports. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research note on Monday, September 22nd. KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. BMO Capital Markets raised Crown Castle from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company raised Crown Castle from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.82.

Crown Castle Stock Down 0.8%

Crown Castle stock opened at $95.74 on Thursday. 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 $41.69 billion, a price-to-earnings ratio of -8.97, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. The stock has a 50-day moving average price of $100.05 and a 200 day moving average price of $101.26.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the company posted $1.62 earnings per share. Crown Castle’s revenue for the quarter was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $1.0625 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. Crown Castle’s payout ratio is presently -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.