Grassi Investment Management Lowers Stock Position in Crown Castle Inc. $CCI

Grassi Investment Management reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 6.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,282 shares of the real estate investment trust’s stock after selling 596 shares during the period. Grassi Investment Management’s holdings in Crown Castle were worth $851,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Scotiabank lifted their target price on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an “outperform” rating in a report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $125.00 price objective on shares of Crown Castle in a report on Thursday, July 24th. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Monday, September 22nd. Finally, Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $115.76.

Crown Castle Stock Up 0.1%

CCI opened at $95.57 on Friday. The firm has a 50 day moving average price of $99.36 and a 200-day moving average price of $101.14. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89. The stock has a market capitalization of $41.62 billion, a price-to-earnings ratio of -8.96, a PEG ratio of 0.73 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates 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 period in the previous year, the business earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

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