Oppenheimer Asset Management Inc. Buys 3,725 Shares of Crown Castle Inc. $CCI

Oppenheimer Asset Management Inc. boosted its stake in Crown Castle Inc. (NYSE:CCI) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,697 shares of the real estate investment trust’s stock after purchasing an additional 3,725 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Crown Castle were worth $13,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Wellington Management Group LLP boosted its stake in Crown Castle by 2.6% in the 1st quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock worth $2,229,260,000 after purchasing an additional 538,049 shares during the period. Dimensional Fund Advisors LP boosted its stake in Crown Castle by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock worth $624,584,000 after purchasing an additional 72,511 shares during the period. Deutsche Bank AG boosted its stake in Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Crown Castle by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock worth $543,264,000 after purchasing an additional 90,371 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.3%

Shares of NYSE CCI opened at $98.58 on Monday. The stock has a market cap of $42.93 billion, a price-to-earnings ratio of -9.27, a P/E/G ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The stock’s 50-day moving average is $97.03 and its 200 day moving average is $100.65.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s dividend payout ratio (DPR) is currently -39.98%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCI shares. Wells Fargo & Company dropped their price target on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research report on Wednesday, October 8th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research report on Monday, September 22nd. Finally, Scotiabank lifted their price target on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $113.12.

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.