Crown Castle Inc. $CCI Stock Position Trimmed by CNB Bank

CNB Bank decreased its position in Crown Castle Inc. (NYSE:CCI) by 26.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,289 shares of the real estate investment trust’s stock after selling 468 shares during the period. CNB Bank’s holdings in Crown Castle were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Crown Castle by 10.2% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after buying an additional 5,144 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 4,276 shares in the last quarter. Inspire Trust Co. N.A. increased its holdings in shares of Crown Castle by 25.0% during the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock valued at $2,085,000 after purchasing an additional 4,000 shares during the period. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Crown Castle by 44.1% during the first quarter. Global Wealth Management Investment Advisory Inc. now owns 49,819 shares of the real estate investment trust’s stock valued at $5,193,000 after purchasing an additional 15,249 shares during the period. Finally, American Assets Investment Management LLC bought a new stake in shares of Crown Castle during the first quarter valued at about $10,395,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $98.58 on Friday. The company has a market capitalization of $42.93 billion, a PE ratio of -9.27, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95. The stock has a fifty day moving average of $97.03 and a 200-day moving average of $100.62. Crown Castle Inc. has a one year low of $84.20 and a one year 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 analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company had revenue of $1.06 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 earnings per share. Crown Castle’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. As a group, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CCI shares. Barclays increased their target price on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. KeyCorp lowered their price objective on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Royal Bank Of Canada set a $112.00 target price on Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group increased 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. Finally, UBS Group boosted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Three investment 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.12.

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.