Keudell Morrison Wealth Management Increases Holdings in Crown Castle Inc. $CCI

Keudell Morrison Wealth Management grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 7,009 shares of the real estate investment trust’s stock after acquiring an additional 462 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Crown Castle were worth $720,000 at the end of the most recent reporting period.

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

Crown Castle Price Performance

Shares of CCI stock opened at $95.57 on Friday. The company has a market capitalization of $41.62 billion, a P/E ratio of -8.96, a P/E/G ratio of 0.73 and a beta of 0.95. The company’s 50-day simple moving average is $99.36 and its two-hundred day simple moving average is $101.12. Crown Castle Inc. has a one year low of $84.20 and a one year high of $115.89.

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

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. Crown Castle’s dividend payout ratio (DPR) is currently -39.83%.

Analysts Set New Price Targets

Several analysts have recently issued reports on CCI shares. Wells Fargo & Company upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a report on Saturday, September 27th. Scotiabank upped their price target on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Finally, KeyCorp cut their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.76.

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.