Transcend Capital Advisors LLC Sells 146 Shares of Crown Castle Inc. $CCI

Transcend Capital Advisors LLC lowered its stake in Crown Castle Inc. (NYSE:CCI) by 6.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,137 shares of the real estate investment trust’s stock after selling 146 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Crown Castle were worth $220,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CCI. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Crown Castle by 10.2% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after purchasing an additional 5,144 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Crown Castle by 13.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 4,276 shares in the last quarter. Inspire Trust Co. N.A. lifted its stake in Crown Castle by 25.0% in the 1st quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock worth $2,085,000 after purchasing an additional 4,000 shares in the last quarter. Global Wealth Management Investment Advisory Inc. lifted its stake in Crown Castle by 44.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 49,819 shares of the real estate investment trust’s stock worth $5,193,000 after purchasing an additional 15,249 shares in the last quarter. Finally, American Assets Investment Management LLC purchased a new stake in Crown Castle in the 1st quarter worth approximately $10,395,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE:CCI opened at $91.30 on Friday. The business has a 50 day moving average of $96.39 and a 200 day moving average of $100.57. The company has a market capitalization of $39.76 billion, a price-to-earnings ratio of -8.59, a PEG ratio of 0.68 and a beta of 0.95. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76.

Crown Castle (NYSE:CCI) last released its earnings results 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the firm earned $1.84 EPS. The firm’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. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is currently -39.98%.

Insider Activity at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the 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 of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CCI shares. Raymond James Financial dropped their price target on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 23rd. JPMorgan Chase & Co. dropped their price target on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research report on Monday, September 22nd. KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $113.12.

About Crown Castle

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.