Townsend & Associates Inc Purchases New Shares in Crown Castle Inc. $CCI

Townsend & Associates Inc purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,852 shares of the real estate investment trust’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of 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 worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the last quarter. Nuveen LLC bought a new stake in shares of Crown Castle during the first quarter worth $305,876,000. Deutsche Bank AG lifted its position in shares of 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 worth $570,443,000 after purchasing an additional 2,072,198 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 worth $357,834,000 after purchasing an additional 2,028,718 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Crown Castle during the first quarter worth $149,661,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. BMO Capital Markets decreased their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. UBS Group raised their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Citigroup cut their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and raised their price target for the company 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, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $114.06.

Crown Castle Price Performance

CCI opened at $97.57 on Monday. The business’s 50-day moving average is $97.40 and its two-hundred day moving average is $100.59. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The firm has a market capitalization of $42.49 billion, a PE ratio of -9.14, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

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