Allspring Global Investments Holdings LLC Buys 565 Shares of Crown Castle Inc. $CCI

Allspring Global Investments Holdings LLC increased its stake in Crown Castle Inc. (NYSE:CCI) by 1.6% during the 2nd quarter, Holdings Channel reports. The firm owned 35,596 shares of the real estate investment trust’s stock after purchasing an additional 565 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Crown Castle were worth $3,692,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Harbour Investments Inc. boosted its stake in Crown Castle by 18.9% in the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 107 shares in the last quarter. Abel Hall LLC boosted its stake in Crown Castle by 1.8% in the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 115 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Crown Castle by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust’s stock worth $3,894,000 after buying an additional 120 shares in the last quarter. Ancora Advisors LLC boosted its stake in Crown Castle by 1.5% in the first quarter. Ancora Advisors LLC now owns 8,778 shares of the real estate investment trust’s stock worth $915,000 after buying an additional 131 shares in the last quarter. Finally, Cornerstone Advisory LLC boosted its stake in Crown Castle by 4.7% in the first quarter. Cornerstone Advisory LLC now owns 2,940 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of several research reports. KeyCorp cut their target price 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 raised Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research note on Wednesday, October 8th. UBS Group increased their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, BMO Capital Markets dropped their price objective on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $113.44.

Crown Castle Stock Up 1.5%

Shares of CCI stock opened at $98.90 on Tuesday. The stock has a fifty day moving average of $97.30 and a 200 day moving average of $100.58. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of -9.27, a PEG ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The firm’s 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. Equities research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current 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. 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 4.3%. Crown Castle’s dividend payout ratio (DPR) is presently -39.83%.

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.