Forsta AP Fonden Lowers Stake in Crown Castle Inc. $CCI

Forsta AP Fonden trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.3% during the 2nd quarter, Holdings Channel reports. The firm owned 96,700 shares of the real estate investment trust’s stock after selling 7,600 shares during the period. Forsta AP Fonden’s holdings in Crown Castle were worth $9,934,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Jupiter Asset Management Ltd. bought a new stake in Crown Castle during the 2nd quarter valued at approximately $5,377,000. Ironwood Investment Counsel LLC boosted its stake in Crown Castle by 31.3% in the 2nd quarter. Ironwood Investment Counsel LLC now owns 24,055 shares of the real estate investment trust’s stock worth $2,471,000 after purchasing an additional 5,737 shares during the period. CENTRAL TRUST Co grew its holdings in Crown Castle by 14.7% during the 2nd quarter. CENTRAL TRUST Co now owns 2,125 shares of the real estate investment trust’s stock valued at $218,000 after buying an additional 272 shares in the last quarter. Vise Technologies Inc. bought a new stake in shares of Crown Castle during the second quarter valued at approximately $511,000. Finally, Allworth Financial LP lifted its holdings in shares of Crown Castle by 37.5% in the second quarter. Allworth Financial LP now owns 9,318 shares of the real estate investment trust’s stock worth $957,000 after buying an additional 2,541 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $90.61 on Friday. The firm has a market capitalization of $39.46 billion, a PE ratio of -8.52, a PEG ratio of 0.68 and a beta of 0.94. The stock’s fifty day moving average is $94.64 and its 200 day moving average is $99.80. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week 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 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 business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm posted $1.84 earnings per share. The business’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. Equities analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $1.0625 dividend. The ex-dividend date is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research reports. Scotiabank lifted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. JPMorgan Chase & Co. cut their price objective on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. BMO Capital Markets reduced their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. UBS Group increased their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Finally, Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. Three equities 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 assigned a Sell rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.12.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.10% of the company’s stock.

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.