Forsta AP Fonden Sells 7,600 Shares of Crown Castle Inc. $CCI

Forsta AP Fonden trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 7.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,700 shares of the real estate investment trust’s stock after selling 7,600 shares during the quarter. Forsta AP Fonden’s holdings in Crown Castle were worth $9,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of CCI. CWM LLC increased its stake in shares of Crown Castle by 12.2% during the first quarter. CWM LLC now owns 19,153 shares of the real estate investment trust’s stock valued at $1,996,000 after purchasing an additional 2,082 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Crown Castle in the 1st quarter worth approximately $1,623,000. Dakota Wealth Management grew its stake in shares of Crown Castle by 49.6% in the 1st quarter. Dakota Wealth Management now owns 8,871 shares of the real estate investment trust’s stock worth $925,000 after buying an additional 2,942 shares during the last quarter. Sage Mountain Advisors LLC bought a new position in Crown Castle during the 1st quarter valued at approximately $266,000. Finally, Larson Financial Group LLC raised its stake in Crown Castle by 25.5% during the first quarter. Larson Financial Group LLC now owns 2,313 shares of the real estate investment trust’s stock valued at $241,000 after buying an additional 470 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Down 3.3%

Shares of NYSE CCI opened at $90.61 on Friday. The firm’s 50-day moving average price is $94.64 and its 200-day moving average price is $99.80. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76. The company has a market cap of $39.46 billion, a PE ratio of -8.52, a PEG ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued 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. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company posted $1.84 earnings per share. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $1.0625 per share. 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 payout ratio is currently -39.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Citigroup cut their target price on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. JPMorgan Chase & Co. dropped their price target on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. KeyCorp reduced their price objective on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Three 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 assigned a Sell rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $113.12.

Insider Activity at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by insiders.

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.