Crown Castle Inc. $CCI Shares Purchased by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 16.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,249 shares of the real estate investment trust’s stock after purchasing an additional 1,156 shares during the period. Sagespring Wealth Partners LLC’s holdings in Crown Castle were worth $847,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC acquired a new position in Crown Castle during the first quarter worth $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle during the first quarter worth $27,000. Rise Advisors LLC acquired a new position in Crown Castle during the first quarter worth $28,000. Finally, WPG Advisers LLC acquired a new position in shares of Crown Castle during the 1st quarter valued at about $33,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CCI has been the topic of several recent research reports. Wells Fargo & Company raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. Raymond James Financial reiterated a “strong-buy” rating and issued a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a report on Wednesday, October 8th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Monday, September 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.76.

Crown Castle Stock Performance

Shares of CCI stock opened at $98.13 on Thursday. The firm’s 50 day moving average price is $97.70 and its 200-day moving average price is $100.75. Crown Castle Inc. has a one year low of $84.20 and a one year high of $115.89. The firm has a market cap of $42.73 billion, a P/E ratio of -9.20, a P/E/G 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, topping 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 company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned $1.62 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

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

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.