Eastern Bank Sells 656 Shares of Crown Castle Inc. $CCI

Eastern Bank trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 57.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 486 shares of the real estate investment trust’s stock after selling 656 shares during the quarter. Eastern Bank’s holdings in Crown Castle were worth $50,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CCI. Farther Finance Advisors LLC grew its position in Crown Castle by 10.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,886 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 357 shares during the last quarter. GAMMA Investing LLC grew its position in Crown Castle by 18.9% during the 1st quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock worth $601,000 after acquiring an additional 916 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Crown Castle by 6.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 20,301 shares of the real estate investment trust’s stock worth $2,116,000 after acquiring an additional 1,199 shares during the last quarter. CX Institutional bought a new position in Crown Castle during the 1st quarter worth approximately $258,000. Finally, Everhart Financial Group Inc. bought a new position in Crown Castle during the 1st quarter worth approximately $307,000. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. KeyCorp dropped their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Monday, September 22nd. Barclays increased their price objective on Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Wells Fargo & Company upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. Finally, UBS Group increased their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $115.76.

Crown Castle Stock Up 1.2%

NYSE CCI opened at $97.74 on Monday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89. The firm has a market capitalization of $42.56 billion, a PE ratio of -9.16, a P/E/G ratio of 0.74 and a beta of 0.95. The stock’s 50 day moving average is $98.22 and its 200 day moving average is $100.85.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. Crown Castle’s payout ratio is presently -39.83%.

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.