Howard Capital Management Inc. Grows Position in Crown Castle Inc. $CCI

Howard Capital Management Inc. increased its position in Crown Castle Inc. (NYSE:CCI) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,697 shares of the real estate investment trust’s stock after purchasing an additional 581 shares during the quarter. Howard Capital Management Inc.’s holdings in Crown Castle were worth $1,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CCI. GAMMA Investing LLC lifted its position in Crown Castle by 18.9% during the first quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock valued at $601,000 after buying an additional 916 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Crown Castle by 12.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,633 shares of the real estate investment trust’s stock valued at $6,074,000 after acquiring an additional 6,428 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Crown Castle by 13.9% during the 1st 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. Joel Isaacson & Co. LLC purchased a new position in shares of Crown Castle during the first quarter valued at approximately $213,000. Finally, Essex Financial Services Inc. lifted its holdings in shares of Crown Castle by 80.1% during the first quarter. Essex Financial Services Inc. now owns 7,109 shares of the real estate investment trust’s stock valued at $741,000 after purchasing an additional 3,162 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 recent research reports. Barclays lifted their target price on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Scotiabank lifted their price target on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. UBS Group lifted their price target on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company lowered 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. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.12.

Crown Castle Price Performance

CCI stock opened at $94.80 on Wednesday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The business has a fifty day moving average price of $96.82 and a 200-day moving average price of $100.66. The stock has a market capitalization of $41.28 billion, a P/E ratio of -8.92, a P/E/G ratio of 0.72 and a beta of 0.95.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm earned $1.84 EPS. Crown Castle’s revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s payout ratio is presently -39.98%.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by insiders.

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.