Mitsubishi UFJ Trust & Banking Corp Trims Stake in Crown Castle Inc. $CCI

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Crown Castle Inc. (NYSE:CCI) by 11.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,135,140 shares of the real estate investment trust’s stock after selling 150,832 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Crown Castle were worth $116,613,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Centerpoint Advisors LLC bought a new stake in shares of Crown Castle in the first quarter valued at about $26,000. Stone House Investment Management LLC purchased a new position in Crown Castle during the 1st quarter valued at about $27,000. Rise Advisors LLC purchased a new position in Crown Castle during the 1st quarter valued at about $28,000. NewSquare Capital LLC raised its holdings in shares of Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in shares of Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CCI. Citigroup dropped their price objective on shares of 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 target price on Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. UBS Group lifted their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. The Goldman Sachs Group boosted their price target on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, Barclays raised their price objective on Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $113.12.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Crown Castle Trading Up 2.7%

Shares of CCI stock opened at $94.34 on Wednesday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76. The business’s fifty day simple moving average is $94.80 and its 200-day simple moving average is $99.90. The company has a market cap of $41.08 billion, a PE ratio of -8.88, a PEG ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last announced its 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. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $1.84 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm 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 dividend of $1.0625 per share. The ex-dividend date is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle’s 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.