WESPAC Advisors LLC Purchases New Position in Crown Castle Inc. $CCI

WESPAC Advisors LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the second quarter, Holdings Channel reports. The firm purchased 7,376 shares of the real estate investment trust’s stock, valued at approximately $758,000.

A number of other large investors have also recently modified their holdings of the company. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle during the first quarter worth $26,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $27,000. Finally, Rise Advisors LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $28,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CCI shares. JMP Securities reaffirmed a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Scotiabank increased their price target 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. JPMorgan Chase & Co. increased their price target on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Finally, KeyCorp cut their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $115.76.

Crown Castle Stock Up 1.2%

NYSE:CCI opened at $95.08 on Wednesday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.89. The stock has a market capitalization of $41.40 billion, a PE ratio of -8.91, a price-to-earnings-growth ratio of 0.71 and a beta of 0.95. The stock’s 50-day moving average price is $98.78 and its 200-day moving average price is $100.96.

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

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.0625 per share. The ex-dividend date was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle’s dividend payout ratio (DPR) is -39.83%.

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.