Commonwealth Equity Services LLC Reduces Position in Crown Castle Inc. $CCI

Commonwealth Equity Services LLC lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 14.3% in the third quarter, HoldingsChannel.com reports. The firm owned 62,461 shares of the real estate investment trust’s stock after selling 10,408 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Crown Castle were worth $6,027,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Crown Castle by 10.2% during the second 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 last quarter. Country Club Bank boosted its holdings in shares of Crown Castle by 20.1% in the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock valued at $6,808,000 after acquiring an additional 11,851 shares in the last quarter. AlphaCore Capital LLC increased its stake in shares of Crown Castle by 213.8% during the second quarter. AlphaCore Capital LLC now owns 11,152 shares of the real estate investment trust’s stock worth $1,146,000 after acquiring an additional 7,598 shares during the period. Lazard Asset Management LLC raised its holdings in Crown Castle by 3,051.5% during the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after purchasing an additional 5,299,155 shares in the last quarter. Finally, Cullen Capital Management LLC raised its holdings in Crown Castle by 2.8% during the second quarter. Cullen Capital Management LLC now owns 1,132,720 shares of the real estate investment trust’s stock worth $116,364,000 after purchasing an additional 30,931 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 2.0%

Shares of CCI stock opened at $88.52 on Thursday. The stock has a market cap of $38.55 billion, a P/E ratio of -8.33, a P/E/G ratio of 0.56 and a beta of 0.96. Crown Castle Inc. has a fifty-two week low of $83.21 and a fifty-two week high of $115.76. The business has a fifty day simple moving average of $89.00 and a 200-day simple moving average of $95.90.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Insider Activity

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the company’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 value of $2,942,400.00. Following the sale, the executive vice president owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This represents a 31.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CCI has been the topic of several recent analyst reports. Jefferies Financial Group dropped their target price on Crown Castle from $102.00 to $90.00 and set a “hold” rating on the stock in a research report on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating and set a $127.00 price objective on shares of Crown Castle in a report on Wednesday, December 10th. BMO Capital Markets reduced their target price on Crown Castle from $114.00 to $107.00 and set an “outperform” rating for the company in a report on Wednesday, December 3rd. KeyCorp lowered their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Finally, Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.06.

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.