Daymark Wealth Partners LLC Makes New Investment in Crown Castle Inc. $CCI

Daymark Wealth Partners LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,239 shares of the real estate investment trust’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. Vanguard Group Inc. grew its holdings in Crown Castle by 10.1% during 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 acquiring an additional 6,341,150 shares in the last quarter. Nuveen LLC bought a new position in Crown Castle during the 1st quarter worth about $305,876,000. Deutsche Bank AG grew its holdings in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after acquiring an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Crown Castle by 144.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after acquiring an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Crown Castle in the 1st quarter valued at about $149,661,000. 90.77% of the stock is currently owned by institutional investors.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Stock Down 1.1%

CCI stock opened at $90.35 on Friday. The firm has a 50 day moving average of $96.12 and a 200 day moving average of $100.50. The stock has a market capitalization of $39.35 billion, a PE ratio of -8.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted $1.84 EPS. Crown Castle’s revenue for the quarter 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. On average, equities research analysts expect 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. Shareholders of record on Monday, September 15th were given a dividend of $1.0625 per share. 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 4.7%. Crown Castle’s dividend payout ratio (DPR) is currently -39.98%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. KeyCorp lowered their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Weiss Ratings restated a “sell (d+)” rating on shares of Crown Castle in a report on Thursday. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a report on Monday, September 22nd. Finally, UBS Group lifted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and an average 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.