Crown Castle Inc. $CCI Shares Bought by Abundance Wealth Counselors

Abundance Wealth Counselors raised its position in Crown Castle Inc. (NYSE:CCI) by 4.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,154 shares of the real estate investment trust’s stock after buying an additional 518 shares during the period. Abundance Wealth Counselors’ holdings in Crown Castle were worth $1,249,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CWA Asset Management Group LLC boosted its holdings in Crown Castle by 9.0% in the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Crown Castle by 10.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after buying an additional 5,144 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Crown Castle by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 4,276 shares during the last quarter. Legacy Advisors LLC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $262,000. Finally, Everhart Financial Group Inc. acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $307,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CCI shares. KeyCorp lowered their target price on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. Wells Fargo & Company upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. UBS Group boosted their target price on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average price target of $115.76.

Crown Castle Stock Performance

CCI opened at $95.53 on Friday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $115.89. The stock has a market capitalization of $41.60 billion, a PE ratio of -8.95, a P/E/G ratio of 0.73 and a beta of 0.95. The business’s 50 day moving average price is $99.68 and its 200 day moving average price is $101.21.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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 firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. Crown Castle’s payout ratio is presently -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.