Gilman Hill Asset Management LLC Trims Position in Crown Castle Inc. $CCI

Gilman Hill Asset Management LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 16.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,675 shares of the real estate investment trust’s stock after selling 8,615 shares during the period. Gilman Hill Asset Management LLC’s holdings in Crown Castle were worth $4,118,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Winnow Wealth LLC purchased a new stake in Crown Castle in the 2nd quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the second quarter worth about $27,000. Rise Advisors LLC bought a new stake in Crown Castle during the 1st quarter valued at approximately $28,000. NewSquare Capital LLC raised its stake in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.1%

CCI stock opened at $87.41 on Wednesday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The firm has a market capitalization of $38.06 billion, a P/E ratio of -8.22, a price-to-earnings-growth ratio of 0.64 and a beta of 0.94. The company has a fifty day simple moving average of $91.50 and a two-hundred day simple moving average of $97.31.

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

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Insider Activity at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on CCI. Wells Fargo & Company cut their price objective on shares of Crown Castle from $115.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, December 16th. Jefferies Financial Group dropped their target price on shares of Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Tuesday, December 16th. Barclays reaffirmed an “equal weight” rating and set a $101.00 target price (down from $104.00) on shares of Crown Castle in a research note on Monday, December 1st. UBS Group reiterated a “buy” rating and issued a $127.00 price target on shares of Crown Castle in a research note on Wednesday, December 10th. Finally, Raymond James Financial cut their price objective on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.35.

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.