ProShare Advisors LLC Purchases 11,762 Shares of Crown Castle Inc. $CCI

ProShare Advisors LLC lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,960 shares of the real estate investment trust’s stock after purchasing an additional 11,762 shares during the period. ProShare Advisors LLC’s holdings in Crown Castle were worth $12,734,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Centerpoint Advisors LLC acquired a new position in Crown Castle during the first quarter worth approximately $26,000. Stone House Investment Management LLC bought a new position in shares of Crown Castle during the 1st quarter worth approximately $27,000. Rise Advisors LLC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $28,000. NewSquare Capital LLC raised its stake in 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 acquiring an additional 120 shares during the period. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Crown Castle by 47.8% during 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 during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Crown Castle 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 directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Crown Castle Stock Up 2.7%

CCI opened at $94.34 on Wednesday. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of -8.88, a P/E/G ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76. The company has a 50-day simple moving average of $94.80 and a 200 day simple moving average of $99.90.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $1.07 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 business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Sell-side analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, December 15th. Crown Castle’s payout ratio is currently -39.98%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CCI shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Crown Castle in a report on Thursday, October 30th. JPMorgan Chase & Co. reduced their target price on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. JMP Securities reissued a “market outperform” rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Barclays raised their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. Finally, Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the stock an “outperform” rating in a report on Wednesday, October 1st. 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 given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.12.

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.