Global Retirement Partners LLC Takes $280,000 Position in Crown Castle Inc. $CCI

Global Retirement Partners LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,728 shares of the real estate investment trust’s stock, valued at approximately $280,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle in the first quarter worth $26,000. Winnow Wealth LLC purchased a new position in Crown Castle in the second quarter valued at $26,000. Stone House Investment Management LLC purchased a new position in Crown Castle in the first quarter valued at $27,000. Rise Advisors LLC acquired a new position in Crown Castle during the 1st quarter worth $28,000. Finally, NewSquare Capital LLC increased its holdings in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CCI shares. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research note on Monday, September 22nd. BMO Capital Markets decreased their price target on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Tuesday, November 25th. Citigroup reduced their price objective on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Finally, Wells Fargo & Company lowered their target price on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $112.00.

Insiders Place Their Bets

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value 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. This represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Trading Down 3.0%

Shares of NYSE:CCI opened at $88.51 on Tuesday. The company has a market capitalization of $38.54 billion, a PE ratio of -8.33, a P/E/G ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76. The firm has a 50 day simple moving average of $93.68 and a 200-day simple moving average of $98.64.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company posted $1.84 earnings per share. The business’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, equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 4.8%. Crown Castle’s payout ratio is -39.98%.

Crown Castle Company 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.