Long Run Wealth Advisors LLC Increases Position in Crown Castle Inc. $CCI

Long Run Wealth Advisors LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 6.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,947 shares of the real estate investment trust’s stock after purchasing an additional 915 shares during the period. Long Run Wealth Advisors LLC’s holdings in Crown Castle were worth $1,535,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Vanguard Group Inc. increased its position in shares of Crown Castle by 10.1% in the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after acquiring an additional 6,341,150 shares in the last quarter. Nuveen LLC acquired a new position in Crown Castle during the 1st quarter valued at about $305,876,000. Deutsche Bank AG increased its holdings in shares of Crown Castle by 60.9% during the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock valued at $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Crown Castle during the 1st quarter worth about $149,661,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total value 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 approximately $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Crown Castle Stock Performance

CCI opened at $89.81 on Thursday. The firm’s 50-day simple moving average is $95.42 and its 200-day simple moving average is $100.23. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76. The firm has a market cap of $39.11 billion, a price-to-earnings ratio of -8.45, a PEG ratio of 0.68 and a beta of 0.94.

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

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio is currently -39.98%.

Analyst Ratings Changes

A number of analysts have commented on CCI shares. BMO Capital Markets dropped their price target on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Crown Castle in a report on Thursday, October 30th. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a report on Monday, September 22nd. Finally, UBS Group boosted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.12.

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.