Spartan Wealth Advisory Services LLC Invests $769,000 in Crown Castle Inc. $CCI

Spartan Wealth Advisory Services LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 1st quarter, Holdings Channel reports. The fund acquired 9,463 shares of the real estate investment trust’s stock, valued at approximately $769,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its holdings in Crown Castle by 7.5% in the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after buying an additional 1,150 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Crown Castle by 6.9% during the second quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock worth $9,000,000 after buying an additional 5,630 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Crown Castle by 3.7% during the second quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock worth $786,000 after buying an additional 272 shares during the last quarter. Jump Financial LLC boosted its position in shares of Crown Castle by 49.3% in the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock valued at $1,121,000 after acquiring an additional 3,603 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Crown Castle by 5.6% in the second quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock valued at $509,000 after acquiring an additional 261 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CCI shares. Raymond James Financial raised their price objective on shares of Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 23rd. Jefferies Financial Group increased their price target on shares of Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a report on Tuesday, April 14th. Truist Financial initiated coverage on shares of Crown Castle in a research report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price target on the stock. BMO Capital Markets raised their price target on shares of Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, April 17th. Finally, Wolfe Research downgraded shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.52.

Crown Castle Stock Up 0.1%

Shares of CCI stock opened at $79.24 on Monday. Crown Castle Inc. has a 12-month low of $73.75 and a 12-month high of $115.76. The company has a market capitalization of $34.59 billion, a P/E ratio of 32.75, a P/E/G ratio of 0.40 and a beta of 0.95. The firm has a 50-day moving average price of $85.66 and a 200 day moving average price of $86.16.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.55. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.41 million. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, research analysts expect that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend was Monday, June 15th. Crown Castle’s payout ratio is presently 175.62%.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.