Crown Castle Inc. $CCI Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 14.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,461 shares of the real estate investment trust’s stock after selling 10,408 shares during the period. Commonwealth Equity Services LLC’s holdings in Crown Castle were worth $6,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Winnow Wealth LLC purchased a new position in Crown Castle in the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Crown Castle in the second quarter valued at approximately $27,000. NewSquare Capital LLC lifted its position in 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 buying an additional 120 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its stake in Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in Crown Castle by 511.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 271 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group reissued a “buy” rating and set a $127.00 price target on shares of Crown Castle in a research report on Wednesday, December 10th. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Citigroup reduced their price target on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Monday, September 22nd. Finally, Barclays restated an “equal weight” rating and issued a $101.00 target price (down previously from $104.00) on shares of Crown Castle in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $109.06.

Insider Activity at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the sale, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by company insiders.

Crown Castle Stock Up 2.0%

CCI opened at $88.52 on Thursday. The business has a fifty day simple moving average of $89.00 and a 200-day simple moving average of $95.90. Crown Castle Inc. has a 52 week low of $83.21 and a 52 week high of $115.76. The firm has a market cap of $38.55 billion, a P/E ratio of -8.33, a P/E/G ratio of 0.56 and a beta of 0.96.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. The company 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%.Crown Castle’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a dividend of $1.0625 per share. The ex-dividend date was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.8%. Crown Castle’s dividend payout ratio is -39.98%.

About Crown Castle

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.