ARS Investment Partners LLC Has $3.83 Million Stake in Crown Castle Inc. $CCI

ARS Investment Partners LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 2.9% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 36,753 shares of the real estate investment trust’s stock after selling 1,080 shares during the period. ARS Investment Partners LLC’s holdings in Crown Castle were worth $3,831,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CCI. CHICAGO TRUST Co NA raised its holdings in Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust’s stock valued at $368,000 after acquiring an additional 104 shares during the period. Harbour Investments Inc. raised its holdings in Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 107 shares during the period. Abel Hall LLC raised its holdings in Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock valued at $666,000 after acquiring an additional 115 shares during the period. Beacon Capital Management LLC raised its holdings in Crown Castle by 36.6% during the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 120 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust’s stock valued at $3,894,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on CCI shares. Raymond James Financial reissued a “strong-buy” rating and set a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. KeyCorp boosted their target price on shares of Crown Castle from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

Crown Castle Price Performance

CCI opened at $102.3110 on Wednesday. The company has a fifty day moving average price of $103.64 and a 200-day moving average price of $100.44. The firm has a market capitalization of $44.55 billion, a P/E ratio of -9.59, a price-to-earnings-growth ratio of 0.76 and a beta of 0.89. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% 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 $1.04 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. 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 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $1.0625 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.2%. Crown Castle’s payout ratio is -39.83%.

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.