Elevation Point Wealth Partners LLC Takes Position in Crown Castle Inc. $CCI

by · The Cerbat Gem

Elevation Point Wealth Partners LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,179 shares of the real estate investment trust’s stock, valued at approximately $121,000.

Several other institutional investors and hedge funds have also bought and sold shares of CCI. Centerpoint Advisors LLC purchased a new position in shares of Crown Castle during the 1st quarter worth approximately $26,000. Winnow Wealth LLC bought a new stake in shares of Crown Castle during the second quarter valued at approximately $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle in the first quarter worth $27,000. Rise Advisors LLC bought a new position in Crown Castle in the first quarter worth $28,000. Finally, NewSquare Capital LLC lifted its position 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 valued at $29,000 after buying an additional 120 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Up 0.8%

CCI stock opened at $91.28 on Monday. The stock’s 50 day simple moving average is $93.79 and its 200 day simple moving average is $98.73. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76. The stock has a market capitalization of $39.75 billion, a PE ratio of -8.59, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The business 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 of this dividend is Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Insider Activity at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Crown Castle from $120.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. Citigroup decreased their target price on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Monday, September 22nd. JPMorgan Chase & Co. cut their price target on Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Three research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $112.18.

Check Out Our Latest Research Report on Crown Castle

Crown Castle Profile

(Free Report)

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.

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