DNB Asset Management AS Has $8 Million Stock Holdings in Crown Castle Inc. $CCI

DNB Asset Management AS lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 4.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 77,877 shares of the real estate investment trust’s stock after buying an additional 2,982 shares during the period. DNB Asset Management AS’s holdings in Crown Castle were worth $8,000,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CCI. Wilmington Savings Fund Society FSB increased its position in Crown Castle by 0.9% during the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 93 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its stake in shares of Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 98 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock valued at $70,000 after acquiring an additional 107 shares during the last quarter. Whittier Trust Co. lifted its holdings in Crown Castle by 5.6% in the 2nd quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock worth $210,000 after purchasing an additional 109 shares during the last quarter. Finally, NewSquare Capital LLC boosted its position in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $89.93 on Friday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76. The business’s fifty day moving average price is $94.15 and its two-hundred day moving average price is $99.15. The stock has a market capitalization of $39.16 billion, a price-to-earnings ratio of -8.46, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the company posted $1.84 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 4.7%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s payout ratio is presently -39.98%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent analyst reports. KeyCorp dropped their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Raymond James Financial decreased their price target on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a report on Thursday, October 23rd. Wells Fargo & Company lowered their price target 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. Finally, Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Three 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.18.

Insider Buying and Selling

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is currently owned by company 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.