Jupiter Asset Management Ltd. Takes Position in Crown Castle Inc. $CCI

Jupiter Asset Management Ltd. acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,338 shares of the real estate investment trust’s stock, valued at approximately $5,377,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth about $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle during the first quarter valued at about $27,000. Rise Advisors LLC purchased a new stake in shares of Crown Castle in the 1st quarter valued at approximately $28,000. NewSquare Capital LLC lifted its holdings in shares of Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction 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 sale, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI opened at $90.61 on Friday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The stock has a market capitalization of $39.46 billion, a PE ratio of -8.52, a PEG ratio of 0.68 and a beta of 0.94. The stock has a 50-day simple moving average of $94.64 and a 200-day simple moving average of $99.80.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research reports. KeyCorp decreased their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. BMO Capital Markets lowered their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Wells Fargo & Company dropped their target price on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. JMP Securities reissued a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, UBS Group raised their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $113.12.

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.