Crown Castle Inc. $CCI Shares Purchased by Slagle Financial LLC

Slagle Financial LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,590 shares of the real estate investment trust’s stock after acquiring an additional 1,145 shares during the quarter. Slagle Financial LLC’s holdings in Crown Castle were worth $2,834,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Duff & Phelps Investment Management Co. increased its stake in shares of Crown Castle by 0.8% in the second quarter. Duff & Phelps Investment Management Co. now owns 1,092,508 shares of the real estate investment trust’s stock valued at $112,233,000 after purchasing an additional 8,319 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in Crown Castle by 15.7% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 625,855 shares of the real estate investment trust’s stock worth $64,294,000 after buying an additional 84,838 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in Crown Castle by 25.3% in the 2nd quarter. Y.D. More Investments Ltd now owns 2,593 shares of the real estate investment trust’s stock worth $261,000 after buying an additional 523 shares in the last quarter. Ontario Teachers Pension Plan Board increased its position in Crown Castle by 134.5% in the 2nd quarter. Ontario Teachers Pension Plan Board now owns 20,202 shares of the real estate investment trust’s stock valued at $2,075,000 after acquiring an additional 11,587 shares during the period. Finally, Avantax Advisory Services Inc. raised its stake in Crown Castle by 5.3% during the 2nd quarter. Avantax Advisory Services Inc. now owns 45,906 shares of the real estate investment trust’s stock valued at $4,716,000 after acquiring an additional 2,296 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Crown Castle stock opened at $91.64 on Monday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76. The firm’s 50 day simple moving average is $94.55 and its 200-day simple moving average is $99.66. The company has a market cap of $39.91 billion, a P/E ratio of -8.62, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating 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 $1.07 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, analysts expect 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 paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

Insider Activity

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the sale, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CCI. Wells Fargo & Company reduced their price target on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. BMO Capital Markets decreased their price target on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Barclays lifted their price target on Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Raymond James Financial cut their price objective on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada set a $112.00 target price on Crown Castle and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average price target of $113.12.

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.