Police & Firemen s Retirement System of New Jersey Increases Stock Position in Crown Castle Inc. $CCI

Police & Firemen s Retirement System of New Jersey grew its holdings in Crown Castle Inc. (NYSE:CCI) by 4.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 65,899 shares of the real estate investment trust’s stock after acquiring an additional 2,722 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Crown Castle were worth $6,770,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Centerpoint Advisors LLC acquired a new position in Crown Castle in the 1st quarter valued at about $26,000. Stone House Investment Management LLC purchased a new position in shares of Crown Castle in the 1st quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $28,000. NewSquare Capital LLC increased its holdings in shares of Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its stake in shares of Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity 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 transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CCI has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. BMO Capital Markets dropped their price target on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Monday, September 22nd. Finally, JMP Securities reissued a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus price target of $113.12.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $91.64 on Friday. The firm has a market capitalization of $39.91 billion, a price-to-earnings ratio of -8.62, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The business’s 50 day simple moving average is $94.55 and its 200-day simple moving average is $99.73. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts anticipate 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 $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s dividend payout ratio is -39.98%.

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.