Crown Castle Inc. $CCI Shares Sold by Ninety One UK Ltd

by · The Markets Daily

Ninety One UK Ltd trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 423,077 shares of the real estate investment trust’s stock after selling 9,405 shares during the quarter. Ninety One UK Ltd’s holdings in Crown Castle were worth $40,823,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Crown Castle during the 2nd quarter worth about $629,431,000. Lazard Asset Management LLC increased its stake in Crown Castle by 3,051.5% during the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after buying an additional 5,299,155 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Crown Castle during the first quarter valued at approximately $149,661,000. JPMorgan Chase & Co. lifted its position in shares of Crown Castle by 33.9% in the second quarter. JPMorgan Chase & Co. now owns 3,657,030 shares of the real estate investment trust’s stock valued at $375,697,000 after acquiring an additional 926,721 shares in the last quarter. Finally, BROOKFIELD Corp ON lifted its position in shares of Crown Castle by 1,919.4% in the first quarter. BROOKFIELD Corp ON now owns 848,277 shares of the real estate investment trust’s stock valued at $88,416,000 after acquiring an additional 806,271 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the completion of the transaction, the executive vice president directly owned 65,571 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research report on Monday, September 22nd. Wells Fargo & Company lowered their target price on shares of Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. UBS Group reaffirmed a “buy” rating and set a $127.00 target price on shares of Crown Castle in a report on Wednesday, December 10th. Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $111.35.

Get Our Latest Report on CCI

Crown Castle Trading Down 0.3%

Shares of CCI stock opened at $88.86 on Thursday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76. The company’s 50-day moving average price is $90.33 and its 200-day moving average price is $96.87. The stock has a market cap of $38.70 billion, a price-to-earnings ratio of -8.36, a PEG ratio of 0.66 and a beta of 0.94.

Crown Castle (NYSE:CCI – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS 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 quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, December 15th. Crown Castle’s payout ratio is presently -39.98%.

Crown Castle Profile

(Free Report)

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.

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