Crown Castle Inc. $CCI Holdings Trimmed by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 34.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,290 shares of the real estate investment trust’s stock after selling 11,885 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Crown Castle were worth $2,290,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Rhumbline Advisers raised its position in Crown Castle by 0.8% during the second quarter. Rhumbline Advisers now owns 942,486 shares of the real estate investment trust’s stock valued at $96,821,000 after buying an additional 7,599 shares during the period. AlphaCore Capital LLC boosted its position in Crown Castle by 213.8% during the 2nd 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. Mufg Securities Americas Inc. increased its holdings in shares of Crown Castle by 25.5% in the 2nd quarter. Mufg Securities Americas Inc. now owns 9,651 shares of the real estate investment trust’s stock valued at $991,000 after purchasing an additional 1,958 shares during the period. Journey Strategic Wealth LLC acquired a new position in shares of Crown Castle in the 2nd quarter valued at about $331,000. Finally, Legal & General Group Plc lifted its position in Crown Castle by 1.8% in the 2nd quarter. Legal & General Group Plc now owns 5,388,941 shares of the real estate investment trust’s stock worth $553,606,000 after buying an additional 95,828 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 0.2%

CCI opened at $89.93 on Friday. The stock’s 50 day simple moving average is $94.15 and its 200-day simple moving average is $99.15. The stock has a market cap of $39.16 billion, a PE ratio of -8.46, a P/E/G ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76.

Crown Castle (NYSE:CCI) last issued its earnings results 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. The firm 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%.Crown Castle’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CCI shares. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research report on Monday, September 22nd. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. BMO Capital Markets dropped their price objective on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Wednesday. Finally, The Goldman Sachs Group raised their target price on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $112.18.

Insiders Place Their Bets

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction that occurred on 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 sale, the executive vice president directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company’s stock.

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.