Crown Castle Inc. $CCI Shares Sold by Naples Global Advisors LLC

Naples Global Advisors LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 39,781 shares of the real estate investment trust’s stock after selling 1,519 shares during the period. Naples Global Advisors LLC’s holdings in Crown Castle were worth $4,087,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CCI. Opal Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the first quarter worth approximately $26,000. Iron Horse Wealth Management LLC purchased a new stake in shares of Crown Castle during the first quarter worth approximately $26,000. Centerpoint Advisors LLC purchased a new stake in shares of Crown Castle during the first quarter worth approximately $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle in the 1st quarter valued at $27,000. Finally, Rise Advisors LLC purchased a new stake in Crown Castle in the 1st quarter valued at $28,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI stock opened at $95.74 on Thursday. The firm has a market capitalization of $41.69 billion, a P/E ratio of -8.97, a P/E/G ratio of 0.73 and a beta of 0.95. The business’s 50-day moving average is $100.05 and its two-hundred day moving average is $101.26. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $119.56.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.Crown Castle’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $1.0625 dividend. 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 4.4%. Crown Castle’s dividend payout ratio (DPR) is currently -39.83%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CCI shares. BMO Capital Markets upgraded Crown Castle from a “market perform” rating to an “outperform” rating and upped their target price for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Monday, September 22nd. KeyCorp dropped their target price on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Barclays upped their target price on Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.82.

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.