Country Club Bank Buys 11,851 Shares of Crown Castle Inc. $CCI

Country Club Bank raised its stake in Crown Castle Inc. (NYSE:CCI) by 20.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,778 shares of the real estate investment trust’s stock after purchasing an additional 11,851 shares during the period. Country Club Bank’s holdings in Crown Castle were worth $6,808,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Crown Castle by 10.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after purchasing an additional 5,144 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC lifted its position in Crown Castle by 1.1% in the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 751,212 shares of the real estate investment trust’s stock worth $78,299,000 after purchasing an additional 8,308 shares during the period. Dark Forest Capital Management LP boosted its stake in Crown Castle by 36.3% during the first quarter. Dark Forest Capital Management LP now owns 45,309 shares of the real estate investment trust’s stock worth $4,723,000 after buying an additional 12,063 shares in the last quarter. OLD Mission Capital LLC acquired a new stake in Crown Castle during the first quarter worth $408,000. Finally, Goldstone Financial Group LLC increased its holdings in Crown Castle by 43.0% in the 2nd quarter. Goldstone Financial Group LLC now owns 8,910 shares of the real estate investment trust’s stock valued at $917,000 after buying an additional 2,679 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 65,571 shares in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CCI shares. Raymond James Financial decreased 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 report on Thursday, October 23rd. The Goldman Sachs Group lifted their price objective on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Citigroup dropped their target price on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 16th. JPMorgan Chase & Co. decreased their price target on Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, BMO Capital Markets lowered their price target on Crown Castle from $114.00 to $107.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 3rd. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $111.35.

Crown Castle Price Performance

NYSE CCI opened at $88.25 on Thursday. The stock’s 50 day simple moving average is $92.32 and its 200 day simple moving average is $97.70. Crown Castle Inc. has a one year low of $84.20 and a one year high of $115.76. The firm has a market cap of $38.43 billion, a PE ratio of -8.30, a price-to-earnings-growth ratio of 0.65 and a beta of 0.94.

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 (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The business 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 dividend of $1.0625 per share. The ex-dividend date is Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 4.8%. Crown Castle’s dividend payout ratio is -39.98%.

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.