Crown Castle Inc. $CCI Shares Sold by Andra AP fonden

Andra AP fonden trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 16.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 82,200 shares of the real estate investment trust’s stock after selling 16,100 shares during the period. Andra AP fonden’s holdings in Crown Castle were worth $8,444,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new position in Crown Castle during the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at $26,000. Stone House Investment Management LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth $27,000. Rise Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth $28,000. Finally, NewSquare Capital LLC grew its stake in shares of Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.10% of the company’s stock.

Crown Castle Stock Up 2.0%

NYSE:CCI opened at $89.54 on Friday. The company has a market capitalization of $38.99 billion, a PE ratio of -8.42, a P/E/G ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76. The stock’s 50 day moving average price is $95.03 and its 200 day moving average price is $100.06.

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

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a $1.0625 dividend. The ex-dividend date is Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 4.7%. Crown Castle’s dividend payout ratio is -39.98%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCI. Citigroup cut their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. BMO Capital Markets lowered their price target on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, October 17th. The Goldman Sachs Group increased their price target on shares of Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Finally, Scotiabank raised their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and an average target price of $113.12.

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.