Naviter Wealth LLC Purchases 2,911 Shares of Crown Castle Inc. $CCI

Naviter Wealth LLC lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 12.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 25,801 shares of the real estate investment trust’s stock after buying an additional 2,911 shares during the quarter. Naviter Wealth LLC’s holdings in Crown Castle were worth $2,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Iron Horse Wealth Management LLC bought a new stake in Crown Castle in the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC bought a new stake in Crown Castle in the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Crown Castle in the 1st quarter worth approximately $26,000. Stone House Investment Management LLC bought a new stake in Crown Castle in the 1st quarter worth approximately $27,000. Finally, Rise Advisors LLC bought a new stake in Crown Castle in the 1st quarter worth approximately $28,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

CCI opened at $96.13 on Tuesday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.89. The firm’s fifty day moving average is $98.00 and its 200 day moving average is $100.80. The stock has a market cap of $41.86 billion, a price-to-earnings ratio of -9.01, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $1.62 EPS. 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. On average, equities research analysts predict 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. Investors of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. Crown Castle’s payout ratio is -39.83%.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Scotiabank lifted their target price on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Raymond James Financial reissued a “strong-buy” rating and set a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Barclays boosted 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. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.