Crown Castle Inc. $CCI Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 5.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,100 shares of the real estate investment trust’s stock after selling 674 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Crown Castle were worth $1,140,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CCI. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle during the first quarter worth $26,000. Centerpoint Advisors LLC purchased a new position in shares of Crown Castle during the first quarter worth $26,000. Stone House Investment Management LLC purchased a new position in shares of Crown Castle during the first quarter worth $27,000. Rise Advisors LLC purchased a new position in shares of Crown Castle during the first quarter worth $28,000. Finally, WPG Advisers LLC purchased a new position in shares of Crown Castle during the first quarter worth $33,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. BMO Capital Markets reduced their target price on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Friday. Wolfe Research raised shares of 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. Scotiabank raised their target price on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a report on Wednesday, October 8th. Finally, 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. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and an average price target of $114.06.

Crown Castle Stock Performance

CCI opened at $97.57 on Monday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76. The stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of -9.14, a PEG ratio of 0.74 and a beta of 0.95. The company has a fifty day moving average of $97.40 and a two-hundred day moving average of $100.59.

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, beating analysts’ consensus estimates of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.62 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.4%. Crown Castle’s payout ratio is currently -39.83%.

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.