Capital Investment Advisors LLC Sells 91,780 Shares of Crown Castle Inc. $CCI

Capital Investment Advisors LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 81.5% in the third quarter, Holdings Channel reports. The firm owned 20,885 shares of the real estate investment trust’s stock after selling 91,780 shares during the period. Capital Investment Advisors LLC’s holdings in Crown Castle were worth $2,015,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CCI. United Asset Strategies Inc. grew its stake in Crown Castle by 3.1% in the 3rd quarter. United Asset Strategies Inc. now owns 4,811 shares of the real estate investment trust’s stock worth $464,000 after acquiring an additional 143 shares in the last quarter. Lecap Asset Management Ltd. raised its stake in shares of Crown Castle by 9.0% during the third quarter. Lecap Asset Management Ltd. now owns 30,640 shares of the real estate investment trust’s stock valued at $2,956,000 after acquiring an additional 2,523 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Crown Castle by 6.6% in the third quarter. HB Wealth Management LLC now owns 15,843 shares of the real estate investment trust’s stock valued at $1,529,000 after purchasing an additional 978 shares during the period. KLP Kapitalforvaltning AS grew its stake in Crown Castle by 1.3% in the third quarter. KLP Kapitalforvaltning AS now owns 156,679 shares of the real estate investment trust’s stock worth $15,259,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Abundance Wealth Counselors grew its stake in Crown Castle by 4.3% in the third quarter. Abundance Wealth Counselors now owns 12,675 shares of the real estate investment trust’s stock worth $1,223,000 after purchasing an additional 521 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CCI. Raymond James Financial decreased their target price 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. Jefferies Financial Group cut their price target on Crown Castle from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a report on Monday, September 22nd. Finally, Barclays reissued an “equal weight” rating and set a $101.00 target price (down previously from $104.00) on shares of Crown Castle in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.33.

Insider Buying and Selling

In other Crown Castle 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 transaction of $2,942,400.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Stock Performance

Crown Castle stock opened at $83.68 on Friday. The stock has a market cap of $36.44 billion, a PE ratio of -7.87, a price-to-earnings-growth ratio of 0.54 and a beta of 0.96. The stock has a 50-day moving average of $89.19 and a two-hundred day moving average of $96.25. Crown Castle Inc. has a one year low of $83.21 and a one year 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, beating analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.07 billion for 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%. Crown Castle’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $1.0625 dividend. The ex-dividend date was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.1%. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

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.