Vontobel Holding Ltd. Sells 913 Shares of Crown Castle Inc. $CCI

Vontobel Holding Ltd. lessened its stake in Crown Castle Inc. (NYSE:CCI) by 20.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,496 shares of the real estate investment trust’s stock after selling 913 shares during the period. Vontobel Holding Ltd.’s holdings in Crown Castle were worth $359,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Maryland State Retirement & Pension System raised its position in Crown Castle by 6.3% in the second quarter. Maryland State Retirement & Pension System now owns 413,517 shares of the real estate investment trust’s stock worth $42,481,000 after purchasing an additional 24,624 shares in the last quarter. Optas LLC acquired a new position in Crown Castle in the second quarter worth about $240,000. Ignite Planners LLC raised its position in Crown Castle by 4.5% in the second quarter. Ignite Planners LLC now owns 8,816 shares of the real estate investment trust’s stock worth $927,000 after purchasing an additional 383 shares in the last quarter. WESPAC Advisors LLC acquired a new position in Crown Castle in the second quarter worth about $758,000. Finally, BankPlus Trust Department acquired a new position in Crown Castle in the second quarter worth about $97,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.3%

CCI stock opened at $97.33 on Wednesday. The company has a market cap of $42.39 billion, a P/E ratio of -9.12, a PEG ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89. The business has a fifty day moving average of $97.85 and a 200-day moving average of $100.77.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s payout ratio is currently -39.83%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Monday, September 22nd. Barclays raised their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a report on Wednesday, October 8th. Finally, UBS Group raised their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.76.

Crown Castle Profile

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.