Crown Castle Inc. $CCI Shares Sold by Pitcairn Co.

Pitcairn Co. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 70.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,570 shares of the real estate investment trust’s stock after selling 20,808 shares during the quarter. Pitcairn Co.’s holdings in Crown Castle were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCI. Winnow Wealth LLC purchased a new position in Crown Castle during the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Crown Castle during the 2nd quarter worth about $27,000. Rise Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter worth approximately $28,000. NewSquare Capital LLC boosted its position in shares of Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV grew its holdings in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 1.5%

Shares of CCI opened at $89.56 on Tuesday. The firm has a market cap of $39.00 billion, a price-to-earnings ratio of -8.43, a PEG ratio of 0.67 and a beta of 0.94. The business’s 50 day moving average is $92.63 and its two-hundred day moving average is $97.85. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

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

Insider Activity at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CCI shares. Citigroup cut their price target on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Wells Fargo & Company cut their target price on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. BMO Capital Markets reduced their target price on Crown Castle from $114.00 to $107.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research note on Monday, September 22nd. Finally, UBS Group reaffirmed a “buy” rating and issued a $127.00 price objective on shares of Crown Castle in a research note on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.59.

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.