Bank of Montreal Can Grows Stake in Crown Castle Inc. $CCI

Bank of Montreal Can raised its stake in Crown Castle Inc. (NYSE:CCI) by 6.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 671,333 shares of the real estate investment trust’s stock after acquiring an additional 42,805 shares during the period. Bank of Montreal Can’s holdings in Crown Castle were worth $68,966,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew 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 worth $7,175,256,000 after acquiring an additional 6,341,150 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Crown Castle by 2.6% in the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock worth $2,229,260,000 after acquiring an additional 538,049 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Crown Castle by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock valued at $624,584,000 after buying an additional 72,511 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Crown Castle by 60.9% during the first 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. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Crown Castle by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock valued at $543,264,000 after buying an additional 90,371 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the completion of the sale, 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 SEC, which is available at this link. 0.10% of the stock is owned by company insiders.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $90.34 on Wednesday. The stock 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 stock’s 50-day simple moving average is $95.63 and its two-hundred day simple moving average is $100.30. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the firm posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on CCI. UBS Group increased their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Raymond James Financial dropped their price objective on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 23rd. JPMorgan Chase & Co. dropped their price objective on Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Wells Fargo & Company dropped their price objective on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Finally, The Goldman Sachs Group increased their price objective on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.12.

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.