Crown Castle Inc. $CCI Shares Purchased by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

by · The Markets Daily

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 60.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 330,038 shares of the real estate investment trust’s stock after buying an additional 123,851 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Crown Castle were worth $34,390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new stake in Crown Castle during the 1st quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in Crown Castle during the 1st quarter worth $26,000. Stone House Investment Management LLC purchased a new position in Crown Castle during the 1st quarter worth $27,000. Finally, American National Bank & Trust acquired a new position in Crown Castle in the first quarter valued at $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.5%

NYSE CCI opened at $95.92 on Friday. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of -8.99, a PEG ratio of 0.73 and a beta of 0.92. The business’s 50 day moving average is $103.52 and its two-hundred day moving average is $101.36. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share 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 the consensus estimate of $1.04 billion. During the same period in the previous year, the business earned $1.62 earnings per share. The company’s revenue for the quarter 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. Equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Crown Castle’s payout ratio is presently -39.83%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CCI. Wells Fargo & Company upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. UBS Group increased their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. KeyCorp boosted their target price on Crown Castle from $122.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets raised Crown Castle from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.41.

Check Out Our Latest 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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