Independent Solutions Wealth Management LLC Lowers Position in Crown Castle Inc. $CCI

Independent Solutions Wealth Management LLC cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,246 shares of the real estate investment trust’s stock after selling 509 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Crown Castle were worth $642,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Nuveen LLC bought a new position in Crown Castle in the 1st quarter valued at $305,876,000. Deutsche Bank AG increased its holdings in shares of Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Crown Castle by 144.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after buying an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Crown Castle during the first quarter valued at $149,661,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Down 1.4%

Shares of CCI opened at $94.07 on Tuesday. The firm has a fifty day simple moving average of $99.06 and a two-hundred day simple moving average of $101.01. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89. The stock has a market capitalization of $40.96 billion, a P/E ratio of -8.82, a PEG ratio of 0.73 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the firm earned $1.62 earnings per share. Crown Castle’s quarterly revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.5%. Crown Castle’s dividend payout ratio is -39.83%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. BMO Capital Markets raised shares of Crown Castle from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $115.00 to $120.00 in a research note on Tuesday, August 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research report on Saturday, September 27th. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $115.76.

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.