Laurel Wealth Advisors LLC Acquires 547,817 Shares of Crown Castle Inc. $CCI

Laurel Wealth Advisors LLC boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 10,173.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 553,202 shares of the real estate investment trust’s stock after acquiring an additional 547,817 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Crown Castle were worth $56,830,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Centerpoint Advisors LLC bought a new stake in shares of Crown Castle in the first quarter worth $26,000. Winnow Wealth LLC acquired a new position in Crown Castle during the 2nd quarter worth about $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle during the 1st quarter worth about $27,000. Rise Advisors LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at about $28,000. Finally, NewSquare Capital LLC increased its stake in shares of Crown Castle by 74.5% in 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. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. The Goldman Sachs Group upped their target price on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Raymond James Financial cut their price target on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 23rd. JPMorgan Chase & Co. dropped their price objective 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. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research report on Wednesday, November 19th. Three equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.18.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $89.39 on Wednesday. The firm’s 50 day moving average price is $93.97 and its 200-day moving average price is $98.90. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76. The company has a market cap of $38.93 billion, a PE ratio of -8.41, a P/E/G ratio of 0.68 and a beta of 0.94.

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

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.8%. The ex-dividend date 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.

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.