Capital Investment Advisors LLC Cuts Position in Crown Castle Inc. $CCI

Capital Investment Advisors LLC decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 81.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,885 shares of the real estate investment trust’s stock after selling 91,780 shares during the period. Capital Investment Advisors LLC’s holdings in Crown Castle were worth $2,015,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Crown Castle in the 2nd quarter worth about $629,431,000. Lazard Asset Management LLC increased its stake in Crown Castle by 3,051.5% during the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after purchasing an additional 5,299,155 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Crown Castle by 33.9% in the second quarter. JPMorgan Chase & Co. now owns 3,657,030 shares of the real estate investment trust’s stock worth $375,697,000 after buying an additional 926,721 shares during the last quarter. BROOKFIELD Corp ON lifted its stake in shares of Crown Castle by 1,919.4% in the first quarter. BROOKFIELD Corp ON now owns 848,277 shares of the real estate investment trust’s stock worth $88,416,000 after buying an additional 806,271 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Crown Castle by 15,241.9% in the second quarter. Canada Pension Plan Investment Board now owns 757,891 shares of the real estate investment trust’s stock worth $77,858,000 after buying an additional 752,951 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the business’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 owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is owned by insiders.

Crown Castle Stock Performance

CCI stock opened at $83.68 on Friday. The company’s fifty day moving average price is $89.19 and its 200-day moving average price is $96.25. Crown Castle Inc. has a one year low of $83.21 and a one year high of $115.76. The company has a market capitalization of $36.44 billion, a PE ratio of -7.87, a price-to-earnings-growth ratio of 0.54 and a beta of 0.96.

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

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $1.0625 dividend. The ex-dividend date was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.1%. Crown Castle’s dividend payout ratio (DPR) is currently -39.98%.

Wall Street Analyst Weigh In

CCI has been the subject of a number of research analyst reports. Raymond James Financial reduced their target price on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a report on Thursday, October 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 29th. New Street Research downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price objective for the company. in a report on Monday. Jefferies Financial Group lowered their target price on shares of Crown Castle from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Finally, Wells Fargo & Company dropped their price target on shares of Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus price target of $110.33.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.