Morningstar Investment Management LLC Invests $434,000 in Crown Castle Inc. $CCI

Morningstar Investment Management LLC purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 4,226 shares of the real estate investment trust’s stock, valued at approximately $434,000.

Other institutional investors have also modified their holdings of the company. Harbour Investments Inc. raised its position in shares of Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 107 shares during the last quarter. Abel Hall LLC raised its position in shares of 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 worth $666,000 after purchasing an additional 115 shares during the last quarter. Beacon Capital Management LLC raised its position in shares of 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 worth $47,000 after purchasing an additional 120 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of 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 worth $3,894,000 after purchasing an additional 120 shares during the last quarter. Finally, Ancora Advisors LLC raised its position in shares of Crown Castle by 1.5% during the 1st quarter. Ancora Advisors LLC now owns 8,778 shares of the real estate investment trust’s stock worth $915,000 after purchasing an additional 131 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Wells Fargo & Company upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research report on Wednesday, October 8th. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus target price of $115.76.

Crown Castle Stock Performance

Shares of CCI opened at $97.33 on Wednesday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.89. The stock has a fifty day moving average of $97.85 and a two-hundred day moving average of $100.77. The company has a market capitalization of $42.39 billion, a PE ratio of -9.12, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.62 EPS. The business’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. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business 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 of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle’s payout ratio is currently -39.83%.

Crown Castle 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.