Thrivent Financial for Lutherans Has $113.83 Million Stake in Crown Castle Inc. $CCI

Thrivent Financial for Lutherans lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 11.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,108,082 shares of the real estate investment trust’s stock after purchasing an additional 115,330 shares during the period. Thrivent Financial for Lutherans’ holdings in Crown Castle were worth $113,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Winnow Wealth LLC bought a new position in Crown Castle during the 2nd quarter worth $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Crown Castle in the second quarter valued at about $27,000. Rise Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at about $28,000. NewSquare Capital LLC increased its position in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its stake in Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Monday, September 22nd. UBS Group restated a “buy” rating and set a $127.00 price objective on shares of Crown Castle in a research note on Wednesday. Barclays reiterated an “equal weight” rating and set a $101.00 target price (down from $104.00) on shares of Crown Castle in a research report on Monday, December 1st. Finally, Citigroup decreased their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $111.59.

Insider Activity

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $90.98 on Friday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76. The stock’s fifty day moving average price is $92.72 and its two-hundred day moving average price is $97.94. The company has a market cap of $39.62 billion, a PE ratio of -8.56, a P/E/G ratio of 0.67 and a beta of 0.94.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

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.