California Public Employees Retirement System Trims Stake in Crown Castle Inc. $CCI

California Public Employees Retirement System lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 15.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,619,159 shares of the real estate investment trust’s stock after selling 304,948 shares during the quarter. California Public Employees Retirement System owned approximately 0.37% of Crown Castle worth $166,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Centerpoint Advisors LLC bought a new position in Crown Castle in the 1st quarter worth $26,000. Winnow Wealth LLC purchased a new stake in Crown Castle in the second quarter worth about $26,000. Stone House Investment Management LLC bought a new position in shares of Crown Castle in the first quarter worth about $27,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Crown Castle in the second quarter worth about $27,000. Finally, Rise Advisors LLC purchased a new position in shares of Crown Castle during the 1st quarter valued at about $28,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of several analyst reports. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Monday, September 22nd. BMO Capital Markets reduced their price objective on shares of Crown Castle from $114.00 to $107.00 and set an “outperform” rating for the company in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Raymond James Financial lowered their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Wells Fargo & Company cut their price target on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $111.59.

Crown Castle Stock Up 0.8%

CCI opened at $89.28 on Monday. The company has a market capitalization of $38.88 billion, a PE ratio of -8.40, a price-to-earnings-growth ratio of 0.66 and a beta of 0.94. The firm has a 50-day simple moving average of $93.22 and a two-hundred day simple moving average of $98.25. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76.

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

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given 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 is Monday, December 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

Insider Activity at Crown Castle

In related 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 value of $2,942,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate 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.