Sustainable Insight Capital Management LLC Makes New Investment in Crown Castle Inc. $CCI

Sustainable Insight Capital Management LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the second quarter, HoldingsChannel reports. The fund acquired 2,282 shares of the real estate investment trust’s stock, valued at approximately $234,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Crown Castle by 10.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock worth $5,707,000 after buying an additional 5,144 shares during the period. Inspire Trust Co. N.A. grew its stake in Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock valued at $2,085,000 after acquiring an additional 4,000 shares during the period. American Assets Investment Management LLC bought a new stake in shares of Crown Castle in the first quarter worth about $10,395,000. Cbre Investment Management Listed Real Assets LLC raised its position in shares of Crown Castle by 1.1% during the first quarter. Cbre Investment Management Listed Real Assets LLC now owns 751,212 shares of the real estate investment trust’s stock worth $78,299,000 after purchasing an additional 8,308 shares during the period. Finally, Dark Forest Capital Management LP raised its position in shares of Crown Castle by 36.3% during the first quarter. Dark Forest Capital Management LP now owns 45,309 shares of the real estate investment trust’s stock worth $4,723,000 after purchasing an additional 12,063 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 2.3%

Shares of CCI opened at $87.76 on Friday. The company’s fifty day simple moving average is $95.22 and its 200 day simple moving average is $100.14. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The company has a market cap of $38.21 billion, a price-to-earnings ratio of -8.26, a PEG ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the firm earned $1.84 EPS. Crown Castle’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. As a group, research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 4.8%. Crown Castle’s dividend payout ratio (DPR) is currently -39.98%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCI. UBS Group increased their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Wells Fargo & Company dropped their target price on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Scotiabank upped their price target on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and an average price target of $113.12.

Insider Buying and Selling

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is currently owned by company insiders.

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.