Apollon Wealth Management LLC Acquires 959 Shares of Crown Castle Inc. $CCI

Apollon Wealth Management LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 17.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,456 shares of the real estate investment trust’s stock after purchasing an additional 959 shares during the period. Apollon Wealth Management LLC’s holdings in Crown Castle were worth $663,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its stake in Crown Castle by 9.0% in the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock valued at $5,707,000 after acquiring an additional 5,144 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock valued at $3,665,000 after acquiring an additional 4,276 shares during the period. Legacy Advisors LLC purchased a new position in shares of Crown Castle in the first quarter valued at about $262,000. Finally, Inspire Trust Co. N.A. increased its position in shares of Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock valued at $2,085,000 after acquiring an additional 4,000 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective 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. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research report on Wednesday, October 8th. Raymond James Financial reiterated a “strong-buy” rating and set a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. BMO Capital Markets upgraded shares of Crown Castle from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $115.00 to $120.00 in a research report on Tuesday, August 19th. Finally, Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Monday, September 22nd. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.76.

Crown Castle Stock Performance

Shares of CCI opened at $98.13 on Thursday. The stock has a market cap of $42.73 billion, a PE ratio of -9.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.89. The firm’s 50-day simple moving average is $97.70 and its two-hundred day simple moving average is $100.75.

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 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 analysts’ expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is currently -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.