NewEdge Wealth LLC Invests $1.60 Million in Crown Castle Inc. $CCI

NewEdge Wealth LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 21,174 shares of the real estate investment trust’s stock, valued at approximately $1,604,000.

Several other large investors have also recently modified their holdings of CCI. United Asset Strategies Inc. increased its stake in Crown Castle by 2.5% during the 4th quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock valued at $438,000 after purchasing an additional 120 shares in the last quarter. Binnacle Investments Inc lifted its stake in shares of Crown Castle by 10.9% in the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 127 shares in the last quarter. Front Row Advisors LLC grew its holdings in shares of Crown Castle by 1.4% during the first quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 130 shares during the last quarter. Hilton Head Capital Partners LLC grew its holdings in shares of Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 134 shares during the last quarter. Finally, CENTRAL TRUST Co increased its position in shares of Crown Castle by 10.2% during the first quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.2%

NYSE:CCI opened at $75.53 on Friday. The company has a market cap of $32.13 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The company has a 50 day simple moving average of $77.86 and a two-hundred day simple moving average of $84.11. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.17). The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.05 million. Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. Crown Castle’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Research analysts forecast that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.6%. Crown Castle’s dividend payout ratio is currently 215.74%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CCI. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price objective for the company. Wolfe Research lowered Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Crown Castle in a research note on Wednesday. Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. Finally, Barclays lifted their price objective on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and a consensus target price of $95.13.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total value of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.