Acorn Financial Advisory Services Inc. ADV Sells 229 Shares of Crown Castle Inc. $CCI

Acorn Financial Advisory Services Inc. ADV cut its holdings in Crown Castle Inc. (NYSE:CCI) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,115 shares of the real estate investment trust’s stock after selling 229 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Crown Castle were worth $1,142,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CCI. Farther Finance Advisors LLC grew its holdings in shares of Crown Castle by 10.1% in the first quarter. Farther Finance Advisors LLC now owns 3,886 shares of the real estate investment trust’s stock valued at $407,000 after acquiring an additional 357 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Crown Castle by 18.9% in the first quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock valued at $601,000 after acquiring an additional 916 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Crown Castle by 6.3% in the first quarter. Assenagon Asset Management S.A. now owns 20,301 shares of the real estate investment trust’s stock valued at $2,116,000 after acquiring an additional 1,199 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Crown Castle by 7.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 258,299 shares of the real estate investment trust’s stock valued at $26,922,000 after purchasing an additional 18,261 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in Crown Castle in the first quarter valued at approximately $26,000. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on CCI shares. Raymond James Financial reiterated a “strong-buy” rating and issued a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Wells Fargo & Company upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research report on Wednesday, October 8th. Finally, Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research report on Monday, September 22nd. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.76.

Crown Castle Stock Performance

Crown Castle stock opened at $96.13 on Tuesday. The stock has a market cap of $41.86 billion, a P/E ratio of -9.01, a PEG ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.89. The firm’s fifty day moving average price is $98.00 and its 200-day moving average price is $100.80.

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

Crown Castle Dividend Announcement

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

About Crown Castle

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.