Atria Investments Inc Cuts Position in Crown Castle Inc. $CCI

Atria Investments Inc decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 4.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 39,961 shares of the real estate investment trust’s stock after selling 1,935 shares during the quarter. Atria Investments Inc’s holdings in Crown Castle were worth $4,105,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Assetmark Inc. raised its holdings in Crown Castle by 9.8% in the second quarter. Assetmark Inc. now owns 22,912 shares of the real estate investment trust’s stock valued at $2,354,000 after buying an additional 2,037 shares during the period. HBK Sorce Advisory LLC raised its holdings in Crown Castle by 7.5% in the second quarter. HBK Sorce Advisory LLC now owns 2,951 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 205 shares during the period. Premier Path Wealth Partners LLC raised its holdings in Crown Castle by 27.0% in the second quarter. Premier Path Wealth Partners LLC now owns 4,147 shares of the real estate investment trust’s stock valued at $426,000 after buying an additional 881 shares during the period. Daymark Wealth Partners LLC purchased a new position in Crown Castle in the second quarter valued at approximately $230,000. Finally, New York Life Investment Management LLC raised its holdings in Crown Castle by 1.4% in the second quarter. New York Life Investment Management LLC now owns 65,221 shares of the real estate investment trust’s stock valued at $6,700,000 after buying an additional 922 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on CCI shares. Wells Fargo & Company lowered their price objective on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Raymond James Financial lowered their price objective on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $113.12.

Crown Castle Trading Down 1.1%

CCI stock opened at $90.35 on Friday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76. The company has a market capitalization of $39.35 billion, a P/E ratio of -8.50, a PEG ratio of 0.68 and a beta of 0.95. The firm has a 50 day simple moving average of $96.12 and a 200-day simple moving average of $100.50.

Crown Castle (NYSE:CCI) last released 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. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned $1.84 earnings per share. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were 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 owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.10% of the company’s stock.

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.