Apollon Wealth Management LLC Purchases 959 Shares of Crown Castle Inc. $CCI

Apollon Wealth Management LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 17.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 6,456 shares of the real estate investment trust’s stock after acquiring an additional 959 shares during the period. Apollon Wealth Management LLC’s holdings in Crown Castle were worth $663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Crown Castle by 10.1% during the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Nuveen LLC bought a new position in Crown Castle during the first quarter valued at approximately $305,876,000. Deutsche Bank AG lifted its position in Crown Castle by 60.9% during the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock valued at $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in Crown Castle during the first quarter valued at approximately $149,661,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.9%

CCI opened at $98.13 on Thursday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.89. The company has a market capitalization of $42.73 billion, a PE ratio of -9.20, a PEG ratio of 0.74 and a beta of 0.95. The firm’s 50 day simple moving average is $97.70 and its two-hundred day simple moving average is $100.75.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion during 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 company’s revenue for the quarter was down 4.2% compared to the same quarter last year. 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. Equities 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 disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid 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 dividend yield of 4.3%. Crown Castle’s dividend payout ratio is -39.83%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of research analyst reports. Barclays increased their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. UBS Group increased their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, July 25th. KeyCorp decreased their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Three 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $115.76.

Crown Castle 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.