US Bancorp DE Lowers Holdings in Crown Castle Inc. $CCI

US Bancorp DE decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,606 shares of the real estate investment trust’s stock after selling 699 shares during the quarter. US Bancorp DE’s holdings in Crown Castle were worth $5,610,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Farther Finance Advisors LLC grew its holdings in Crown Castle by 10.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,886 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 357 shares in the last quarter. GAMMA Investing LLC grew its holdings in Crown Castle by 18.9% during the 1st quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock worth $601,000 after acquiring an additional 916 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Crown Castle by 6.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 20,301 shares of the real estate investment trust’s stock worth $2,116,000 after acquiring an additional 1,199 shares in the last quarter. CX Institutional acquired a new position in Crown Castle during the 1st quarter worth approximately $258,000. Finally, Everhart Financial Group Inc. acquired a new position in Crown Castle during the 1st quarter worth approximately $307,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $97.74 on Monday. The company has a fifty day moving average price of $98.22 and a 200 day moving average price of $100.85. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.89. The company has a market cap of $42.56 billion, a price-to-earnings ratio of -9.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Crown Castle’s revenue for the quarter was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.3%. Crown Castle’s dividend payout ratio is -39.83%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. JMP Securities restated a “market outperform” rating and set a $125.00 price objective on shares of Crown Castle in a research report on Thursday, July 24th. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. BMO Capital Markets upgraded shares of Crown Castle from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $115.00 to $120.00 in a research report on Tuesday, August 19th. Finally, Scotiabank boosted their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.76.

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.