Crown Castle Inc. $CCI Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its position in Crown Castle Inc. (NYSE:CCI) by 5.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,906 shares of the real estate investment trust’s stock after purchasing an additional 2,296 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Crown Castle were worth $4,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC raised its stake in Crown Castle by 10.1% during the second quarter. Intech Investment Management LLC now owns 25,844 shares of the real estate investment trust’s stock worth $2,655,000 after purchasing an additional 2,380 shares during the period. Creative Planning increased its holdings in shares of Crown Castle by 8.0% during the 2nd quarter. Creative Planning now owns 68,144 shares of the real estate investment trust’s stock worth $7,000,000 after buying an additional 5,071 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Crown Castle by 0.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 712,815 shares of the real estate investment trust’s stock valued at $73,227,000 after purchasing an additional 6,199 shares during the period. Davis Selected Advisers boosted its position in shares of Crown Castle by 3.2% during the 2nd quarter. Davis Selected Advisers now owns 42,300 shares of the real estate investment trust’s stock worth $4,345,000 after purchasing an additional 1,300 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. grew its stake in shares of Crown Castle by 1,162.9% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 127,677 shares of the real estate investment trust’s stock valued at $13,115,000 after buying an additional 117,567 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Crown Castle stock opened at $91.08 on Wednesday. The stock has a market capitalization of $39.66 billion, a PE ratio of -8.57, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The business has a 50 day simple moving average of $94.42 and a 200-day simple moving average of $99.44. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76.

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

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Insider Activity at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent research reports. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research report on Monday, September 22nd. Barclays lowered their target price on Crown Castle from $120.00 to $104.00 and set an “overweight” rating for the company in a research note on Monday. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an “outperform” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group increased 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. Finally, JPMorgan Chase & Co. decreased their target price on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.18.

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.