Vestmark Advisory Solutions Inc. Lowers Stake in Crown Castle Inc. $CCI

Vestmark Advisory Solutions Inc. lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 26.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,964 shares of the real estate investment trust’s stock after selling 12,288 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Crown Castle were worth $3,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in CCI. Sustainable Insight Capital Management LLC bought a new stake in shares of Crown Castle in the 2nd quarter worth approximately $234,000. Savant Capital LLC boosted its holdings in Crown Castle by 14.2% in the second quarter. Savant Capital LLC now owns 5,429 shares of the real estate investment trust’s stock worth $558,000 after acquiring an additional 675 shares in the last quarter. Long Run Wealth Advisors LLC grew its stake in shares of Crown Castle by 6.5% in the second quarter. Long Run Wealth Advisors LLC now owns 14,947 shares of the real estate investment trust’s stock worth $1,535,000 after acquiring an additional 915 shares during the last quarter. Anchor Capital Advisors LLC increased its holdings in shares of Crown Castle by 2.7% during the second quarter. Anchor Capital Advisors LLC now owns 464,425 shares of the real estate investment trust’s stock valued at $47,710,000 after acquiring an additional 12,328 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. raised its position in shares of Crown Castle by 2.2% in the 2nd quarter. Resona Asset Management Co. Ltd. now owns 74,006 shares of the real estate investment trust’s stock worth $7,554,000 after purchasing an additional 1,558 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 2.0%

Shares of CCI stock opened at $89.54 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76. The stock has a market capitalization of $38.99 billion, a P/E ratio of -8.42, a P/E/G ratio of 0.68 and a beta of 0.94. The firm’s 50 day moving average is $95.03 and its 200 day moving average is $100.03.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Wall Street Analyst Weigh In

Several brokerages recently commented on CCI. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. KeyCorp dropped their target price on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. BMO Capital Markets reduced their price target on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Finally, Raymond James Financial cut their target price on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.12.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction dated 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 $6,431,203.68. This represents a 31.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is currently owned by corporate insiders.

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.