US Bancorp DE reduced its position in Crown Castle Inc. (NYSE:CCI – Free Report) by 1.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 54,606 shares of the real estate investment trust’s stock after selling 699 shares during the quarter. US Bancorp DE’s holdings in Crown Castle were worth $5,610,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. increased its stake in Crown Castle by 18.9% in the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock valued at $70,000 after buying an additional 107 shares during the period. Abel Hall LLC grew its stake in shares of Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock worth $666,000 after purchasing an additional 115 shares during the period. Beacon Capital Management LLC grew its stake in shares of Crown Castle by 36.6% during the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 120 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust’s stock worth $3,894,000 after purchasing an additional 120 shares during the period. Finally, Ancora Advisors LLC grew its stake in shares of Crown Castle by 1.5% during the 1st quarter. Ancora Advisors LLC now owns 8,778 shares of the real estate investment trust’s stock worth $915,000 after purchasing an additional 131 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on CCI. UBS Group upped their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. upped their price target on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. Finally, Wells Fargo & Company raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $115.76.
Crown Castle Trading Up 1.2%
Shares of NYSE CCI opened at $97.74 on Monday. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of -9.16, a PEG ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.89. The company’s 50-day moving average price is $98.22 and its 200 day moving average price is $100.85.
Crown Castle (NYSE:CCI – Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm’s revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. 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 earnings per share for the current year.
Crown Castle Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is -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.
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