National Pension Service Sells 602,433 Shares of Crown Castle Inc. $CCI

National Pension Service lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 48.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 634,809 shares of the real estate investment trust’s stock after selling 602,433 shares during the quarter. National Pension Service owned about 0.15% of Crown Castle worth $65,214,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CCI. 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 valued at $5,707,000 after purchasing an additional 5,144 shares during the last quarter. Inspire Trust Co. N.A. increased its position in shares of Crown Castle by 25.0% during 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 purchasing an additional 4,000 shares during the period. American Assets Investment Management LLC bought a new position in Crown Castle in the first quarter worth $10,395,000. Cbre Investment Management Listed Real Assets LLC increased its holdings in Crown Castle by 1.1% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 751,212 shares of the real estate investment trust’s stock valued at $78,299,000 after buying an additional 8,308 shares during the period. Finally, Dark Forest Capital Management LP raised its stake in shares of Crown Castle by 36.3% in the 1st quarter. Dark Forest Capital Management LP now owns 45,309 shares of the real estate investment trust’s stock valued at $4,723,000 after buying an additional 12,063 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Down 3.3%

CCI stock opened at $90.61 on Friday. The business’s fifty day moving average is $94.64 and its 200-day moving average is $99.80. The company has a market cap of $39.46 billion, a P/E ratio of -8.52, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm earned $1.84 earnings per share. The firm’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. Research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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 issued a $1.0625 dividend. The ex-dividend date is Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research note on Monday, September 22nd. BMO Capital Markets dropped their price objective on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Crown Castle in a report on Thursday, October 30th. Three investment 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.12.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the business’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 of the company’s stock, valued at $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by corporate insiders.

Crown Castle 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.