United Capital Financial Advisors LLC acquired a new position in Crown Castle Inc. (NYSE:CCI – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 18,855 shares of the real estate investment trust’s stock, valued at approximately $1,428,000.
A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Wiser Advisor Group LLC bought a new position in shares of Crown Castle in the 3rd quarter worth $29,000. Pingora Partners LLC purchased a new position in Crown Castle in the second quarter worth $30,000. Hilton Head Capital Partners LLC grew its position in Crown Castle by 55.6% in the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 134 shares in the last quarter. Triumph Capital Management bought a new position in Crown Castle in the third quarter valued at $31,000. Finally, Global Assets Advisory LLC bought a new position in Crown Castle in the first quarter valued at $32,000. 90.77% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CCI has been the subject of several research analyst reports. Truist Financial dropped their price target on Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. JPMorgan Chase & Co. lowered their price objective on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Barclays increased their target price on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, Citizens Jmp lowered their price target on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a research note on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and a consensus price target of $95.13.
Crown Castle Price Performance
Shares of NYSE:CCI opened at $76.09 on Friday. The stock’s 50-day moving average is $76.91 and its 200 day moving average is $83.86. The company has a market cap of $32.37 billion, a PE ratio of 38.62, a P/E/G ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $100.50.
Crown Castle (NYSE:CCI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.17). The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The business’s revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Analysts expect that Crown Castle Inc. will post 4.39 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Crown Castle’s dividend payout ratio is presently 215.74%.
Insider Transactions at Crown Castle
In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the sale, the vice president directly owned 5,113 shares in the company, valued at $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by insiders.
Crown Castle Company 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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