Crown Castle Inc. $CCI Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 86.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,238 shares of the real estate investment trust’s stock after selling 227,907 shares during the quarter. SG Americas Securities LLC’s holdings in Crown Castle were worth $3,825,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of CCI. Jennison Associates LLC purchased a new position in shares of Crown Castle during the 1st quarter worth approximately $2,616,000. Teachers Retirement System of The State of Kentucky grew its holdings in Crown Castle by 4.3% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 33,525 shares of the real estate investment trust’s stock valued at $3,494,000 after buying an additional 1,381 shares during the last quarter. Wealth Alliance LLC purchased a new position in Crown Castle during the first quarter worth $277,000. Hazlett Burt & Watson Inc. lifted its position in shares of Crown Castle by 60.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 800 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 300 shares in the last quarter. Finally, HighPoint Advisor Group LLC lifted its position in shares of Crown Castle by 16.0% in the first quarter. HighPoint Advisor Group LLC now owns 8,553 shares of the real estate investment trust’s stock valued at $887,000 after acquiring an additional 1,182 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

CCI opened at $91.08 on Wednesday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The company’s 50 day simple moving average is $94.42 and its 200 day simple moving average is $99.44. The stock has a market capitalization of $39.66 billion, a PE ratio of -8.57, a P/E/G ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. Crown Castle’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued 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%.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of recent research reports. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a report on Monday, September 22nd. KeyCorp cut their price objective on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. The Goldman Sachs Group raised their target price on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.18.

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.