Metis Global Partners LLC Sells 1,995 Shares of Crown Castle Inc. $CCI

Metis Global Partners LLC reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,832 shares of the real estate investment trust’s stock after selling 1,995 shares during the period. Metis Global Partners LLC’s holdings in Crown Castle were worth $2,654,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle in the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC bought a new position in shares of Crown Castle during the first quarter valued at approximately $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle in the first quarter worth $27,000. Rise Advisors LLC bought a new stake in Crown Castle in the first quarter valued at $28,000. Finally, NewSquare Capital LLC boosted its holdings in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on CCI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday, October 30th. The Goldman Sachs Group increased their price target on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Scotiabank raised their price objective 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. Wells Fargo & Company reduced their target price on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Finally, Barclays lifted their price target 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. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average price target of $113.12.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $89.54 on Monday. The business has a 50-day simple moving average of $95.03 and a two-hundred day simple moving average of $100.01. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76. The firm has a market cap of $38.99 billion, a price-to-earnings ratio of -8.42, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $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, research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

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

Insider Buying and Selling

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction on Friday, October 24th. The stock was 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 owned 65,571 shares in the company, valued at approximately $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.

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.