Crown Castle Inc. $CCI Shares Sold by Atria Investments Inc

Atria Investments Inc cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,961 shares of the real estate investment trust’s stock after selling 1,935 shares during the quarter. Atria Investments Inc’s holdings in Crown Castle were worth $4,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CCI. Allspring Global Investments Holdings LLC boosted its position in shares of 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 buying an additional 4,276 shares in the last quarter. Private Trust Co. NA boosted its position in shares of Crown Castle by 10.7% in the 1st quarter. Private Trust Co. NA now owns 3,487 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 337 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Crown Castle by 226.6% in the 1st quarter. Teacher Retirement System of Texas now owns 83,703 shares of the real estate investment trust’s stock worth $8,724,000 after buying an additional 58,071 shares in the last quarter. Resonant Capital Advisors LLC purchased a new stake in shares of Crown Castle in the 1st quarter worth about $202,000. Finally, Mutual Advisors LLC boosted its position in shares of Crown Castle by 20.5% in the 1st quarter. Mutual Advisors LLC now owns 8,459 shares of the real estate investment trust’s stock worth $848,000 after buying an additional 1,437 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CCI shares. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research report on Monday, September 22nd. Scotiabank upped their target price 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. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. Finally, Barclays upped their target price on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company 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 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 directly owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.10% of the stock is currently owned by insiders.

Crown Castle Price Performance

Shares of CCI stock opened at $90.35 on Friday. The firm has a market cap of $39.35 billion, a P/E ratio of -8.50, a PEG ratio of 0.68 and a beta of 0.95. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The firm’s 50-day simple moving average is $96.12 and its 200-day simple moving average is $100.50.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

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.