Probity Advisors Inc. Acquires 636 Shares of Crown Castle Inc. $CCI

Probity Advisors Inc. raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 11.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,418 shares of the real estate investment trust’s stock after purchasing an additional 636 shares during the period. Probity Advisors Inc.’s holdings in Crown Castle were worth $659,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle during the first quarter valued at about $26,000. Centerpoint Advisors LLC purchased a new stake in Crown Castle during the first quarter valued at about $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle during the first quarter valued at about $27,000. Rise Advisors LLC purchased a new stake in Crown Castle during the first quarter valued at about $28,000. Finally, WPG Advisers LLC purchased a new stake in Crown Castle during the first quarter valued at about $33,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CCI shares. Scotiabank raised their price target on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. BMO Capital Markets decreased their price objective on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Crown Castle in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $113.44.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $98.90 on Tuesday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The company has a market cap of $43.07 billion, a PE ratio of -9.27, a P/E/G ratio of 0.74 and a beta of 0.95. The stock’s 50-day moving average is $97.30 and its 200 day moving average is $100.58.

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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the business earned $1.62 EPS. Crown Castle’s 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. Analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.0625 per share. 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 payout ratio is currently -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.