Arete Wealth Advisors LLC Sells 320 Shares of Crown Castle Inc. $CCI

Arete Wealth Advisors LLC cut its position in Crown Castle Inc. (NYSE:CCI) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,944 shares of the real estate investment trust’s stock after selling 320 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Crown Castle were worth $515,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CWA Asset Management Group LLC raised its holdings in Crown Castle by 9.0% in the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 219 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Crown Castle by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock valued at $3,665,000 after acquiring an additional 4,276 shares during the last quarter. Legacy Advisors LLC bought a new position in shares of Crown Castle during the first quarter valued at $262,000. Everhart Financial Group Inc. acquired a new position in shares of Crown Castle during the first quarter worth $307,000. Finally, Inspire Trust Co. N.A. grew its stake in shares of Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock worth $2,085,000 after purchasing an additional 4,000 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI stock opened at $93.97 on Thursday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock has a 50 day simple moving average of $102.97 and a two-hundred day simple moving average of $101.35. The company has a market cap of $40.92 billion, a P/E ratio of -8.81, a PEG ratio of 0.72 and a beta of 0.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on CCI shares. Royal Bank Of Canada lifted their target price on Crown Castle from $112.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, August 7th. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. UBS Group upped their target price on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. KeyCorp increased their target price on shares of Crown Castle from $122.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 24th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.41.

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.