Crown Castle Inc. $CCI Shares Bought by AlphaQuest LLC

AlphaQuest LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 52.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,630 shares of the real estate investment trust’s stock after acquiring an additional 6,084 shares during the quarter. AlphaQuest LLC’s holdings in Crown Castle were worth $1,811,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $27,000. Rise Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $28,000. Finally, WPG Advisers LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $33,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.3%

NYSE:CCI opened at $98.58 on Friday. The business’s 50 day moving average is $97.03 and its two-hundred day moving average is $100.58. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The company has a market cap of $42.93 billion, a PE ratio of -9.27, a P/E/G ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $1.84 EPS. Crown Castle’s quarterly revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s dividend payout ratio (DPR) is currently -39.98%.

Wall Street Analyst Weigh In

CCI has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price target on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a report on Monday, September 22nd. Scotiabank increased their price target on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Wells Fargo & Company reduced their price target on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.12.

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.