Crown Castle Inc. $CCI Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC lessened its position in shares of Crown Castle Inc. (NYSE:CCI) by 86.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,238 shares of the real estate investment trust’s stock after selling 227,907 shares during the quarter. SG Americas Securities LLC’s holdings in Crown Castle were worth $3,825,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in Crown Castle in the 1st quarter valued at $2,616,000. Teachers Retirement System of The State of Kentucky increased its stake in Crown Castle by 4.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 33,525 shares of the real estate investment trust’s stock valued at $3,494,000 after purchasing an additional 1,381 shares during the period. Wealth Alliance LLC purchased a new stake in shares of Crown Castle in the first quarter valued at about $277,000. Hazlett Burt & Watson Inc. boosted its stake in shares of Crown Castle by 60.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 800 shares of the real estate investment trust’s stock worth $83,000 after buying an additional 300 shares during the period. Finally, HighPoint Advisor Group LLC grew its holdings in shares of Crown Castle by 16.0% during the first quarter. HighPoint Advisor Group LLC now owns 8,553 shares of the real estate investment trust’s stock worth $887,000 after buying an additional 1,182 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle 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 sale, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of recent research reports. Scotiabank increased their price objective on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. BMO Capital Markets decreased their price target on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Wells Fargo & Company dropped their price objective on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $112.18.

Crown Castle Price Performance

Shares of CCI stock opened at $91.08 on Wednesday. The business’s fifty day moving average price is $94.42 and its 200 day moving average price is $99.44. The firm has a market capitalization of $39.66 billion, a PE ratio of -8.57, a P/E/G ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 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 analyst estimates of $1.05 billion. During the same period in the previous year, the firm earned $1.84 EPS. The business’s 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. Equities research analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio 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.