Cigna Investments Inc. New Sells 130 Shares of Crown Castle Inc. $CCI

Cigna Investments Inc. New decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,292 shares of the real estate investment trust’s stock after selling 130 shares during the quarter. Cigna Investments Inc. New’s holdings in Crown Castle were worth $448,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle in the first quarter worth $26,000. Centerpoint Advisors LLC bought a new position in shares of Crown Castle in the first quarter worth $26,000. Opal Wealth Advisors LLC bought a new position in shares of Crown Castle in the first quarter worth $26,000. Stone House Investment Management LLC bought a new position in shares of Crown Castle in the first quarter worth $27,000. Finally, American National Bank & Trust bought a new position in shares of Crown Castle in the first quarter worth $29,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.5%

NYSE CCI opened at $99.18 on Tuesday. The company has a 50-day simple moving average of $103.91 and a two-hundred day simple moving average of $101.23. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market cap of $43.19 billion, a price-to-earnings ratio of -9.30, a PEG ratio of 0.75 and a beta of 0.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $1.62 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup upped their price target on shares of Crown Castle from $108.00 to $124.00 and gave the stock a “buy” rating in a report on Monday, May 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Wells Fargo & Company upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Bank of America assumed coverage on shares of Crown Castle in a research report on Monday, May 19th. They issued a “buy” rating and a $115.00 target price for the company. Finally, KeyCorp upped their target price on shares of Crown Castle from $122.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $116.41.

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.