Beacon Capital Management LLC Sells 115 Shares of Crown Castle Inc. $CCI

Beacon Capital Management LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 25.7% in the second quarter, Holdings Channel.com reports. The fund owned 333 shares of the real estate investment trust’s stock after selling 115 shares during the quarter. Beacon Capital Management LLC’s holdings in Crown Castle were worth $34,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle during the 1st quarter worth about $26,000. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the 1st quarter worth about $26,000. Centerpoint Advisors LLC bought a new position in shares of Crown Castle during the 1st quarter worth about $26,000. Stone House Investment Management LLC bought a new position in shares of Crown Castle during the 1st quarter worth about $27,000. Finally, Rise Advisors LLC bought a new position in shares of Crown Castle during the 1st quarter worth about $28,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 1.4%

CCI opened at $95.30 on Monday. The stock has a market capitalization of $41.50 billion, a PE ratio of -8.93, a PEG ratio of 0.72 and a beta of 0.92. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $119.56. The firm has a 50-day moving average price of $100.82 and a two-hundred day moving average price of $101.38.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts predict 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 Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle’s payout ratio is -39.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a report on Monday, September 22nd. KeyCorp cut their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Scotiabank lifted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Finally, Royal Bank Of Canada lifted their price target on shares of Crown Castle from $112.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, August 7th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and an average price target of $115.82.

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.