Ritholtz Wealth Management Sells 7,455 Shares of Crown Castle Inc. $CCI

Ritholtz Wealth Management lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 60.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,827 shares of the real estate investment trust’s stock after selling 7,455 shares during the quarter. Ritholtz Wealth Management’s holdings in Crown Castle were worth $392,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wiser Advisor Group LLC purchased a new position in shares of Crown Castle in the third quarter worth about $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Crown Castle during the 3rd quarter valued at about $31,000. Triumph Capital Management bought a new position in Crown Castle during the 3rd quarter worth approximately $31,000. Hilton Head Capital Partners LLC grew its position in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 134 shares during the last quarter. Finally, Salomon & Ludwin LLC increased its stake in Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 215 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. The Goldman Sachs Group started coverage on Crown Castle in a research report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. BMO Capital Markets upped their price target on shares of Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Barclays increased their price target on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group boosted their price objective on shares of Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $98.52.

Crown Castle Stock Up 1.1%

Shares of Crown Castle stock opened at $76.53 on Thursday. The business has a 50 day moving average of $87.97 and a 200 day moving average of $87.02. Crown Castle Inc. has a 52 week low of $74.33 and a 52 week high of $115.76. The company has a market cap of $33.40 billion, a PE ratio of 31.63, a P/E/G ratio of 0.38 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.41 million. During the same quarter in the previous year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, research analysts anticipate that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $1.0625 dividend. The ex-dividend date was Monday, June 15th. This represents a $4.25 annualized dividend and a yield of 5.6%. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.