Spartan Wealth Advisory Services LLC bought a new stake in Crown Castle Inc. (NYSE:CCI – Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,463 shares of the real estate investment trust’s stock, valued at approximately $769,000.
Several other hedge funds and other institutional investors have also modified their holdings of CCI. Empowered Funds LLC lifted its stake in Crown Castle by 7.5% in the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after acquiring an additional 1,150 shares in the last quarter. First Trust Advisors LP grew its stake in Crown Castle by 6.9% during the 2nd quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock valued at $9,000,000 after acquiring an additional 5,630 shares in the last quarter. Baird Financial Group Inc. grew its stake in Crown Castle by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock valued at $786,000 after acquiring an additional 272 shares in the last quarter. Jump Financial LLC increased its holdings in shares of Crown Castle by 49.3% in the 2nd quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock valued at $1,121,000 after purchasing an additional 3,603 shares during the period. Finally, Federated Hermes Inc. increased its holdings in shares of Crown Castle by 5.6% in the 2nd quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 261 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.
Analyst Upgrades and Downgrades
CCI has been the subject of several research reports. Barclays raised their price target on shares of Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. BMO Capital Markets upped their price objective on shares of Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Jefferies Financial Group increased their target price on shares of Crown Castle from $84.00 to $89.00 and gave the stock a “hold” rating in a research report on Tuesday, April 14th. Scotiabank decreased their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 7th. Finally, Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.52.
Crown Castle Stock Performance
Shares of CCI stock opened at $79.24 on Monday. The stock’s 50 day simple moving average is $85.66 and its 200 day simple moving average is $86.16. Crown Castle Inc. has a twelve month low of $73.75 and a twelve month high of $115.76. The company has a market capitalization of $34.59 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 0.40 and a beta of 0.95.
Crown Castle (NYSE:CCI – Get Free Report) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.55. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.41 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The company’s revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, analysts forecast that Crown Castle Inc. will post 4.22 EPS for the current fiscal year.
Crown Castle Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, June 15th. Crown Castle’s dividend payout ratio is currently 175.62%.
Crown Castle Profile
Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.
Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.
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