Chevy Chase Trust Holdings LLC Boosts Stake in Crown Castle Inc. $CCI

Chevy Chase Trust Holdings LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 230,008 shares of the real estate investment trust’s stock after acquiring an additional 2,082 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Crown Castle were worth $23,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Crown Castle by 18.9% in the first quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock worth $601,000 after purchasing an additional 916 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Crown Castle by 7.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 258,299 shares of the real estate investment trust’s stock worth $26,922,000 after buying an additional 18,261 shares in the last quarter. Sowell Financial Services LLC bought a new position in shares of Crown Castle in the 1st quarter worth $213,000. CWA Asset Management Group LLC raised its position in shares of Crown Castle by 9.0% during the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 219 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its holdings in shares of Crown Castle by 5.2% during the 1st quarter. Johnson Investment Counsel Inc. now owns 3,907 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on CCI. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. BMO Capital Markets decreased their price objective on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday. Scotiabank boosted their target price 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. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.06.

Crown Castle Price Performance

Shares of CCI stock opened at $97.57 on Friday. The business has a 50-day moving average of $97.40 and a 200 day moving average of $100.64. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The stock has a market capitalization of $42.49 billion, a PE ratio of -9.14, a P/E/G ratio of 0.74 and a beta of 0.95.

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

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle’s dividend payout ratio (DPR) is presently -39.83%.

Crown Castle 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.