Crown Castle Inc. $CCI Shares Bought by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 17.1% during the second quarter, Holdings Channel reports. The fund owned 10,720 shares of the real estate investment trust’s stock after purchasing an additional 1,562 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Crown Castle were worth $1,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCI. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle during the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC purchased a new position in shares of Crown Castle during the 1st quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle during the first quarter worth approximately $27,000. Rise Advisors LLC bought a new stake in shares of Crown Castle in the first quarter worth $28,000. Finally, NewSquare Capital LLC raised its holdings in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CCI. KeyCorp decreased their price objective on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. UBS Group increased their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. 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 note on Friday, July 25th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research note on Monday, September 22nd. Finally, Wells Fargo & Company decreased their target price 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 equities 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 given a Sell rating to the company. According to data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average target price of $113.12.

Crown Castle Trading Up 2.0%

Shares of NYSE CCI opened at $89.54 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76. The company has a market cap of $38.99 billion, a price-to-earnings ratio of -8.42, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The stock’s 50 day simple moving average is $95.03 and its 200 day simple moving average is $100.06.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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

Insiders Place Their Bets

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 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate 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.