Huntington National Bank Lowers Stock Position in Crown Castle Inc. $CCI

Huntington National Bank lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 16.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 43,376 shares of the real estate investment trust’s stock after selling 8,353 shares during the quarter. Huntington National Bank’s holdings in Crown Castle were worth $4,456,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle during the first quarter valued at approximately $26,000. Centerpoint Advisors LLC purchased a new stake in Crown Castle during the first quarter valued at approximately $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle during the first quarter valued at approximately $27,000. Rise Advisors LLC purchased a new stake in Crown Castle during the first quarter valued at approximately $28,000. Finally, Creative Financial Designs Inc. ADV lifted its position 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 valued at $31,000 after acquiring an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of a number of analyst reports. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the company an “outperform” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. decreased their target price on shares of 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 raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research report on Monday, September 22nd. BMO Capital Markets cut their price target on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.12.

Insider Buying and Selling 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 shares were sold at an average price of $98.08, for a total value of $2,942,400.00. Following the sale, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is owned by insiders.

Crown Castle Trading Up 0.9%

Shares of Crown Castle stock opened at $90.34 on Wednesday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76. The firm has a market capitalization of $39.34 billion, a price-to-earnings ratio of -8.50, a PEG ratio of 0.68 and a beta of 0.95. The firm’s 50 day simple moving average is $95.63 and its two-hundred day simple moving average is $100.30.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.06 billion for 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%. Crown Castle’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

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.