State of Alaska Department of Revenue decreased its position in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,209 shares of the real estate investment trust’s stock after selling 6,307 shares during the period. State of Alaska Department of Revenue’s holdings in Crown Castle were worth $16,942,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in CCI. Pingora Partners LLC bought a new position in shares of Crown Castle in the 2nd quarter valued at $30,000. Hilton Head Capital Partners LLC increased its holdings in Crown Castle by 55.6% in the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 134 shares in the last quarter. Global Assets Advisory LLC bought a new stake in shares of Crown Castle during the first quarter worth about $32,000. MV Capital Management Inc. bought a new stake in shares of Crown Castle during the fourth quarter worth about $34,000. Finally, Anchor Investment Management LLC increased its stake in shares of Crown Castle by 242.8% in the second quarter. Anchor Investment Management LLC now owns 473 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 335 shares during the period. 90.77% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have weighed in on CCI. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a report on Friday, June 26th. They set a “neutral” rating and a $95.00 target price on the stock. Barclays lifted their price target on shares of Crown Castle from $84.00 to $86.00 and gave the stock an “overweight” rating in a report on Wednesday, September 30th. BMO Capital Markets decreased their price objective on Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 20th. Truist Financial lowered their target price on Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Finally, Weiss Ratings downgraded Crown Castle from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Crown Castle presently has an average rating of “Hold” and a consensus target price of $94.07.
Crown Castle Trading Up 1.8%
Shares of NYSE:CCI traded up $1.41 during midday trading on Thursday, hitting $80.79. 1,247,205 shares of the stock were exchanged, compared to its average volume of 3,688,739. Crown Castle Inc. has a twelve month low of $65.32 and a twelve month high of $100.50. The company has a 50 day moving average price of $73.54 and a 200-day moving average price of $80.59. The stock has a market cap of $34.37 billion, a P/E ratio of 41.02, a PEG ratio of 0.71 and a beta of 0.94.
Crown Castle (NYSE:CCI – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.69 EPS for the quarter, beating the consensus estimate of $0.51 by $0.18. Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.05 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, equities research analysts expect that Crown Castle Inc. will post 4.38 earnings per share for the current year.
Crown Castle Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend was Tuesday, September 15th. Crown Castle’s payout ratio is currently 215.74%.
Insider Buying and Selling
In related news, VP Robert Collins sold 1,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the sale, the vice president owned 5,113 shares in the company, valued at $388,025.57. This represents a 22.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.
Crown Castle Company Profile
Crown Castle Inc (NYSE: CCI) is a communications infrastructure company that owns, operates and leases wireless communications assets in the United States. Its infrastructure helps wireless carriers, government agencies and other customers expand network coverage and capacity for voice, data and other wireless services.
The company’s portfolio includes cell towers and fiber-based infrastructure. Crown Castle provides space on its towers for wireless equipment and offers fiber solutions that support small-cell networks, distributed antenna systems and other high-capacity communications applications.
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