Waterfront Wealth Inc. Sells 325 Shares of Crown Castle Inc. $CCI

Waterfront Wealth Inc. trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,836 shares of the real estate investment trust’s stock after selling 325 shares during the quarter. Waterfront Wealth Inc.’s holdings in Crown Castle were worth $805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CCI. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the 1st quarter valued at $26,000. Centerpoint Advisors LLC bought a new stake in Crown Castle during the first quarter valued at about $26,000. Stone House Investment Management LLC bought a new stake in Crown Castle during the first quarter valued at about $27,000. Rise Advisors LLC bought a new stake in Crown Castle during the first quarter valued at about $28,000. Finally, WPG Advisers LLC bought a new stake in Crown Castle during the first quarter valued at about $33,000. 90.77% of the stock is owned by institutional investors.

Insider Activity

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CCI. UBS Group boosted their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. BMO Capital Markets cut their price target on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Raymond James Financial cut 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, October 23rd. Finally, Scotiabank increased their price target on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $113.12.

Crown Castle Trading Down 2.3%

CCI opened at $92.40 on Thursday. The firm has a market cap of $40.24 billion, a P/E ratio of -8.69, a P/E/G ratio of 0.70 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The stock has a 50-day moving average of $96.62 and a 200 day moving average of $100.63.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $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 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, September 15th. Crown Castle’s payout ratio is -39.98%.

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.