Raleigh Capital Management Inc. Decreases Stock Position in Crown Castle Inc. $CCI

Raleigh Capital Management Inc. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 8.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,502 shares of the real estate investment trust’s stock after selling 138 shares during the period. Raleigh Capital Management Inc.’s holdings in Crown Castle were worth $154,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Crown Castle by 2.6% in the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock worth $2,229,260,000 after buying an additional 538,049 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Crown Castle by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock worth $624,584,000 after buying an additional 72,511 shares during the period. Deutsche Bank AG grew its holdings in shares of Crown Castle by 60.9% during the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after buying an additional 2,072,198 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Crown Castle by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock valued at $543,264,000 after buying an additional 90,371 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CCI shares. Wells Fargo & Company raised Crown Castle from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. KeyCorp reduced their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Barclays raised their price target on shares of Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Finally, Raymond James Financial restated a “strong-buy” rating and set a $124.00 price objective (up from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $115.82.

Crown Castle Price Performance

Shares of NYSE CCI opened at $96.41 on Wednesday. The stock has a market capitalization of $41.98 billion, a price-to-earnings ratio of -9.04, a PEG ratio of 0.73 and a beta of 0.92. The firm’s 50 day simple moving average is $100.33 and its 200-day simple moving average is $101.30. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $119.56.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) 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 business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Monday, September 15th. Crown Castle’s payout ratio is currently -39.83%.

Crown Castle Profile

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.