Transcend Capital Advisors LLC Decreases Stake in Crown Castle Inc. $CCI

Transcend Capital Advisors LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 6.4% during the second quarter, Holdings Channel.com reports. The firm owned 2,137 shares of the real estate investment trust’s stock after selling 146 shares during the period. Transcend Capital Advisors LLC’s holdings in Crown Castle were worth $220,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Crown Castle by 10.2% in the 2nd 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 purchasing an additional 5,144 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Crown Castle by 13.9% in the 1st 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 during the period. Inspire Trust Co. N.A. increased its stake in Crown Castle by 25.0% in 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. Global Wealth Management Investment Advisory Inc. increased its stake in Crown Castle by 44.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 49,819 shares of the real estate investment trust’s stock worth $5,193,000 after purchasing an additional 15,249 shares during the period. Finally, American Assets Investment Management LLC purchased a new position in Crown Castle in the 1st quarter worth approximately $10,395,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Down 1.1%

Shares of CCI stock opened at $91.30 on Friday. The stock has a market cap of $39.76 billion, a price-to-earnings ratio of -8.59, a PEG ratio of 0.68 and a beta of 0.95. The business’s fifty day moving average is $96.39 and its 200 day moving average is $100.57. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. The company 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 firm’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 earnings per share. 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 company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

Insiders Place Their Bets

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the business’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 sale, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CCI. Citigroup reduced 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. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research note on Monday, September 22nd. Barclays boosted their target price on Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Wells Fargo & Company dropped their target price on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Finally, UBS Group raised their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $113.12.

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.