IFP Advisors Inc Sells 1,051 Shares of Crown Castle Inc. $CCI

IFP Advisors Inc trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 42.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,412 shares of the real estate investment trust’s stock after selling 1,051 shares during the period. IFP Advisors Inc’s holdings in Crown Castle were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CCI. Vanguard Group Inc. lifted its position in shares of Crown Castle by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. Nuveen LLC acquired a new position in Crown Castle in the first quarter valued at about $305,876,000. Deutsche Bank AG lifted its position in Crown Castle by 60.9% during the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after buying an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in Crown Castle in the 1st quarter valued at about $149,661,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the subject of a number of recent analyst reports. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a report on Monday, September 22nd. Royal Bank Of Canada set a $112.00 target price on Crown Castle and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. BMO Capital Markets decreased their price target on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays upped their price objective on Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Finally, Raymond James Financial reiterated a “strong-buy” rating and issued a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average target price of $114.06.

Crown Castle Price Performance

Shares of NYSE CCI opened at $97.57 on Friday. The company has a 50 day simple moving average of $97.40 and a 200 day simple moving average of $100.64. The firm has a market cap of $42.49 billion, a PE ratio of -9.14, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76.

Crown Castle (NYSE:CCI) last posted 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. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.4%. Crown Castle’s payout ratio is presently -39.83%.

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.