Jupiter Asset Management Ltd. Purchases New Position in Crown Castle Inc. $CCI

Jupiter Asset Management Ltd. acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 52,338 shares of the real estate investment trust’s stock, valued at approximately $5,377,000.

Several other institutional investors have also modified their holdings of CCI. Wilmington Savings Fund Society FSB raised its stake in Crown Castle by 0.9% during the 2nd quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock worth $1,055,000 after acquiring an additional 93 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 107 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Crown Castle by 5.6% in the 2nd quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock valued at $210,000 after purchasing an additional 109 shares during the last quarter. Finally, Abel Hall LLC boosted its position in shares of Crown Castle by 1.8% in the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CCI. 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. UBS Group lifted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. Barclays upped their price target on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. BMO Capital Markets lowered their price objective on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Finally, The Goldman Sachs Group upped their target price on shares of Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.12.

Crown Castle Stock Performance

Shares of CCI opened at $90.61 on Friday. The stock has a market capitalization of $39.46 billion, a P/E ratio of -8.52, a P/E/G ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The company’s fifty day moving average is $94.64 and its two-hundred day moving average is $99.80.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The business’s quarterly 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. Sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

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

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the completion of the sale, the executive vice president directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

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.