Crown Castle Inc. $CCI Shares Bought by ProShare Advisors LLC

ProShare Advisors LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 10.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,960 shares of the real estate investment trust’s stock after purchasing an additional 11,762 shares during the period. ProShare Advisors LLC’s holdings in Crown Castle were worth $12,734,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock valued at $5,707,000 after acquiring an additional 5,144 shares in the last quarter. Inspire Trust Co. N.A. increased its holdings in Crown Castle by 25.0% during 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 during the period. American Assets Investment Management LLC acquired a new stake in Crown Castle in the 1st quarter valued at about $10,395,000. Cbre Investment Management Listed Real Assets LLC raised its position in Crown Castle by 1.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 751,212 shares of the real estate investment trust’s stock valued at $78,299,000 after purchasing an additional 8,308 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in shares of Crown Castle by 36.3% in the 1st quarter. Dark Forest Capital Management LP now owns 45,309 shares of the real estate investment trust’s stock valued at $4,723,000 after buying an additional 12,063 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’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 value 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 trade represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CCI shares. Scotiabank boosted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Wells Fargo & Company dropped their target price on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Finally, The Goldman Sachs Group raised their price target on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $113.12.

Crown Castle Stock Performance

NYSE CCI opened at $94.34 on Wednesday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The stock’s 50 day moving average price is $94.80 and its two-hundred day moving average price is $99.90. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of -8.88, a PEG ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm earned $1.84 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

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.