Crown Castle Inc. $CCI Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 14.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 316,660 shares of the real estate investment trust’s stock after selling 54,400 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Crown Castle worth $33,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CCI. Schonfeld Strategic Advisors LLC lifted its stake in shares of Crown Castle by 17.6% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 9,090 shares of the real estate investment trust’s stock valued at $825,000 after purchasing an additional 1,360 shares during the last quarter. AXA S.A. lifted its stake in Crown Castle by 89.7% during the 4th quarter. AXA S.A. now owns 62,202 shares of the real estate investment trust’s stock worth $5,645,000 after acquiring an additional 29,420 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in Crown Castle by 10.7% during the 4th quarter. Aptus Capital Advisors LLC now owns 4,384 shares of the real estate investment trust’s stock worth $398,000 after acquiring an additional 424 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Crown Castle by 2.3% during the 4th quarter. Baird Financial Group Inc. now owns 34,476 shares of the real estate investment trust’s stock worth $3,129,000 after acquiring an additional 764 shares in the last quarter. Finally, Crestline Management LP acquired a new position in Crown Castle during the 4th quarter worth about $295,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Scotiabank increased their target price on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. KeyCorp increased their target price on Crown Castle from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. BMO Capital Markets raised Crown Castle from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $115.00 to $120.00 in a research note on Tuesday, August 19th. Finally, Bank of America assumed coverage on Crown Castle in a research note on Monday, May 19th. They set a “buy” rating and a $115.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.41.

Crown Castle Price Performance

CCI stock opened at $97.08 on Thursday. The firm has a market capitalization of $42.28 billion, a P/E ratio of -9.10, a P/E/G ratio of 0.75 and a beta of 0.92. The business’s 50-day moving average is $103.71 and its two-hundred day moving average is $101.18. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

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 analysts’ consensus estimates of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.Crown Castle’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.0625 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. Crown Castle’s dividend payout ratio is presently -39.83%.

Crown Castle Company Profile

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.