Homestead Advisers Corp Boosts Stake in Crown Castle Inc. $CCI

Homestead Advisers Corp raised its position in Crown Castle Inc. (NYSE:CCI) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 597,500 shares of the real estate investment trust’s stock after purchasing an additional 2,700 shares during the quarter. Homestead Advisers Corp’s holdings in Crown Castle were worth $61,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Crown Castle by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. Wellington Management Group LLP lifted its position in shares of Crown Castle by 2.6% during the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock worth $2,229,260,000 after purchasing an additional 538,049 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Crown Castle by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock valued at $624,584,000 after purchasing an additional 72,511 shares during the period. Deutsche Bank AG increased its stake in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after buying an additional 2,072,198 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Crown Castle by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock worth $543,264,000 after buying an additional 90,371 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction on Friday, October 24th. The shares were 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 owned 65,571 shares in the company, valued at approximately $6,431,203.68. This represents a 31.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.10% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $90.34 on Wednesday. The stock has a 50-day simple moving average of $95.63 and a 200-day simple moving average of $100.30. The stock has a market cap of $39.34 billion, a P/E ratio of -8.50, a P/E/G ratio of 0.68 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. KeyCorp lowered their target price on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. The Goldman Sachs Group upped their price target on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research note on Monday, September 22nd. Finally, Raymond James Financial lowered their price objective on 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. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $113.12.

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.