IVC Wealth Advisors LLC Has $923,000 Stock Position in Crown Castle Inc. $CCI

IVC Wealth Advisors LLC boosted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,988 shares of the real estate investment trust’s stock after buying an additional 298 shares during the period. IVC Wealth Advisors LLC’s holdings in Crown Castle were worth $923,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CCI. Vanguard Group Inc. raised its holdings in Crown Castle by 10.1% during 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 buying an additional 6,341,150 shares during the period. Nuveen LLC acquired a new stake in Crown Castle during the 1st quarter worth approximately $305,876,000. Deutsche Bank AG raised its holdings in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after buying an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Crown Castle by 144.5% during the 1st 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 during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in Crown Castle during the 1st quarter worth approximately $149,661,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on CCI. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a report on Monday, September 22nd. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price objective on shares of Crown Castle in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. UBS Group lifted their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, BMO Capital Markets upgraded shares of Crown Castle from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.76.

Crown Castle Trading Up 0.1%

Shares of CCI opened at $95.57 on Friday. The company has a market cap of $41.62 billion, a price-to-earnings ratio of -8.96, a PEG ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.89. The company’s fifty day simple moving average is $99.36 and its 200 day simple moving average is $101.12.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion for 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 firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Monday, September 15th. Crown Castle’s payout ratio is presently -39.83%.

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.