Ironwood Investment Counsel LLC Purchases 5,737 Shares of Crown Castle Inc. $CCI

Ironwood Investment Counsel LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 31.3% in the second quarter, Holdings Channel reports. The institutional investor owned 24,055 shares of the real estate investment trust’s stock after buying an additional 5,737 shares during the period. Ironwood Investment Counsel LLC’s holdings in Crown Castle were worth $2,471,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Crown Castle by 10.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after buying an additional 5,144 shares in the last quarter. Inspire Trust Co. N.A. increased its position in shares of Crown Castle by 25.0% during the 1st quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock worth $2,085,000 after purchasing an additional 4,000 shares during the last quarter. American Assets Investment Management LLC bought a new stake in shares of Crown Castle during the 1st quarter worth approximately $10,395,000. Cbre Investment Management Listed Real Assets LLC grew its stake in shares of Crown Castle by 1.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 751,212 shares of the real estate investment trust’s stock valued at $78,299,000 after buying an additional 8,308 shares in the last quarter. Finally, Dark Forest Capital Management LP increased its holdings in Crown Castle by 36.3% during the first quarter. Dark Forest Capital Management LP now owns 45,309 shares of the real estate investment trust’s stock worth $4,723,000 after buying an additional 12,063 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $94.34 on Wednesday. The business’s fifty day moving average price is $94.80 and its two-hundred day moving average price is $99.90. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of -8.88, a PEG ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the company posted $1.84 earnings per share. Crown Castle’s revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, December 15th. Crown Castle’s payout ratio is presently -39.98%.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCI. Weiss Ratings reissued a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday, October 30th. Wells Fargo & Company cut their price objective on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. Citigroup cut their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Finally, Raymond James Financial decreased their price objective on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.12.

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.