Crown Castle Inc. $CCI Stock Holdings Increased by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 57.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,657 shares of the real estate investment trust’s stock after purchasing an additional 7,151 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Crown Castle were worth $2,019,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Crown Castle during the 1st quarter valued at approximately $26,000. Iron Horse Wealth Management LLC bought a new stake in Crown Castle during the first quarter valued at $26,000. Centerpoint Advisors LLC bought a new stake in Crown Castle during the first quarter valued at $26,000. Stone House Investment Management LLC bought a new position in shares of Crown Castle in the 1st quarter worth about $27,000. Finally, Rise Advisors LLC bought a new position in shares of Crown Castle in the 1st quarter worth about $28,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $96.24 on Tuesday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $119.56. The business’s fifty day moving average price is $100.61 and its two-hundred day moving average price is $101.33. The company has a market capitalization of $41.91 billion, a P/E ratio of -9.02, a PEG ratio of 0.72 and a beta of 0.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 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 analyst estimates of $1.04 billion. During the same period last year, the company earned $1.62 earnings per share. The company’s quarterly 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. On average, research analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle’s dividend payout ratio is currently -39.83%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CCI shares. Wells Fargo & Company upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. JPMorgan Chase & Co. increased their price target on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Scotiabank raised their price target on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research note on Monday, September 22nd. Finally, KeyCorp dropped their target price on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average 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.