Assetmark Inc. Has $2.35 Million Stake in Crown Castle Inc. $CCI

Assetmark Inc. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 9.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 22,912 shares of the real estate investment trust’s stock after acquiring an additional 2,037 shares during the period. Assetmark Inc.’s holdings in Crown Castle were worth $2,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Iron Horse Wealth Management LLC acquired a new stake in Crown Castle in the 1st quarter worth about $26,000. Centerpoint Advisors LLC acquired a new stake in Crown Castle in the 1st quarter worth about $26,000. Stone House Investment Management LLC acquired a new stake in Crown Castle in the 1st quarter worth about $27,000. Rise Advisors LLC acquired a new stake in Crown Castle in the 1st quarter worth about $28,000. Finally, WPG Advisers LLC acquired a new stake in Crown Castle in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. JMP Securities restated a “market outperform” rating and issued a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research report on Monday, September 22nd. Raymond James Financial dropped their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 23rd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.12.

Crown Castle Trading Up 0.9%

Shares of Crown Castle stock opened at $90.34 on Wednesday. The firm has a market capitalization of $39.34 billion, a PE ratio of -8.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. The firm’s 50 day moving average is $95.63 and its 200 day moving average is $100.30. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Insider Activity

In related news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle 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 sale, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Crown Castle Company 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.