Crown Castle Inc. $CCI Shares Sold by CNB Bank

CNB Bank decreased its position in Crown Castle Inc. (NYSE:CCI) by 26.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,289 shares of the real estate investment trust’s stock after selling 468 shares during the quarter. CNB Bank’s holdings in Crown Castle were worth $132,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CCI. Vanguard Group Inc. boosted its stake in shares of Crown Castle by 10.1% in the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Nuveen LLC acquired a new position in Crown Castle in the 1st quarter worth $305,876,000. Deutsche Bank AG boosted its position in Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after buying an additional 2,072,198 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock valued at $357,834,000 after acquiring an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Crown Castle during the first quarter worth about $149,661,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 0.3%

CCI stock opened at $98.58 on Friday. The stock’s 50 day simple moving average is $97.03 and its 200 day simple moving average is $100.62. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76. The firm has a market cap of $42.93 billion, a P/E ratio of -9.27, a P/E/G ratio of 0.74 and a beta of 0.95.

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 firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm’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 firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s payout ratio is presently -39.98%.

Analysts Set New Price Targets

A number of brokerages recently commented on CCI. Raymond James Financial reduced their price target on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a report on Thursday. The Goldman Sachs Group upped their target price on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research note on Monday, September 22nd. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Wednesday, October 8th. Finally, Scotiabank upped their price target on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $113.12.

Crown Castle Company 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.