ASR Vermogensbeheer N.V. Buys 4,230 Shares of Crown Castle Inc. $CCI

ASR Vermogensbeheer N.V. increased its stake in Crown Castle Inc. (NYSE:CCI) by 57.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,533 shares of the real estate investment trust’s stock after purchasing an additional 4,230 shares during the quarter. ASR Vermogensbeheer N.V.’s holdings in Crown Castle were worth $1,185,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. CWA Asset Management Group LLC raised its holdings in shares of 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 worth $278,000 after purchasing an additional 219 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Crown Castle by 10.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after purchasing an additional 5,144 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Crown Castle by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 4,276 shares during the period. Legacy Advisors LLC bought a new stake in shares of Crown Castle in the 1st quarter worth approximately $262,000. Finally, Everhart Financial Group Inc. bought a new stake in shares of Crown Castle in the 1st quarter worth approximately $307,000. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a report on Saturday, September 27th. JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. Raymond James Financial reissued a “strong-buy” rating and set a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Finally, BMO Capital Markets raised shares of Crown Castle from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $115.76.

Crown Castle Stock Performance

Crown Castle stock opened at $95.57 on Friday. The stock has a market cap of $41.62 billion, a P/E ratio of -8.96, a PEG ratio of 0.73 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 $99.36 and its 200-day moving average price is $101.12.

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 Announces Dividend

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