Vanguard Group Inc. Purchases 449,776 Shares of Crown Castle Inc. $CCI

Vanguard Group Inc. boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,290,381 shares of the real estate investment trust’s stock after buying an additional 449,776 shares during the period. Vanguard Group Inc. owned approximately 0.16% of Crown Castle worth $7,118,201,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CCI. Centerpoint Advisors LLC bought a new stake in shares of Crown Castle during the 1st quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle during the first quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Crown Castle during the first quarter valued at approximately $28,000. NewSquare Capital LLC lifted its stake in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. The Goldman Sachs Group boosted their price target on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Scotiabank lifted their target price on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Citigroup dropped their target price on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $112.18.

Insider Activity at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $98.08, for a total value of $2,942,400.00. Following the sale, the executive vice president owned 65,571 shares of the company’s stock, valued at $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.

Crown Castle Trading Up 0.6%

Crown Castle stock opened at $91.08 on Wednesday. The stock has a 50-day moving average price of $94.42 and a two-hundred day moving average price of $99.44. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The company has a market capitalization of $39.66 billion, a PE ratio of -8.57, a P/E/G ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company 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 posted $1.84 earnings per share. The firm’s revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, December 15th. Crown Castle’s payout ratio is -39.98%.

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.