Compass Wealth Management LLC Buys 5,641 Shares of Crown Castle Inc. (NYSE:CCI)

17 Oct 2024, 18:07 by Kim Johansen · The Markets Daily

Compass Wealth Management LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 11.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 54,443 shares of the real estate investment trust’s stock after acquiring an additional 5,641 shares during the period. Crown Castle makes up 1.5% of Compass Wealth Management LLC’s investment portfolio, making the stock its 11th biggest position. Compass Wealth Management LLC’s holdings in Crown Castle were worth $6,459,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CCI. EntryPoint Capital LLC bought a new stake in Crown Castle in the first quarter worth $27,000. Asset Dedication LLC lifted its stake in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares during the last quarter. ORG Partners LLC bought a new position in shares of Crown Castle during the second quarter valued at about $34,000. Finally, New Millennium Group LLC bought a new position in shares of Crown Castle during the second quarter valued at about $34,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CCI. BMO Capital Markets upped their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Royal Bank of Canada upped their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Barclays boosted their price target on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $116.00.

View Our Latest Stock Report on CCI

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company’s stock.

Crown Castle Stock Down 3.6 %

Shares of NYSE:CCI traded down $4.20 during trading on Thursday, reaching $111.48. 1,666,101 shares of the stock traded hands, compared to its average volume of 2,627,277. The stock has a 50-day moving average of $113.98 and a two-hundred day moving average of $105.00. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $48.45 billion, a P/E ratio of 40.97 and a beta of 0.85.

Crown Castle (NYSE:CCI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company earned $1.77 EPS. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.62%. Crown Castle’s payout ratio is presently 229.30%.

Crown Castle Company 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.