Crown Castle Inc. $CCI Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 6.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,340,886 shares of the real estate investment trust’s stock after selling 90,446 shares during the period. Russell Investments Group Ltd.’s holdings in Crown Castle were worth $137,678,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Crown Castle by 0.7% during the second quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock worth $7,118,201,000 after purchasing an additional 449,776 shares during the period. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock worth $2,229,260,000 after buying an additional 538,049 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Crown Castle by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock valued at $624,584,000 after buying an additional 72,511 shares during the period. Deutsche Bank AG lifted its holdings in Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after acquiring an additional 2,072,198 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Crown Castle by 4.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,430,163 shares of the real estate investment trust’s stock worth $557,841,000 after acquiring an additional 217,998 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In related 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 value of $2,942,400.00. Following the sale, the executive vice president owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.

Crown Castle Stock Up 0.4%

Crown Castle stock opened at $89.39 on Wednesday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76. The firm has a market cap of $38.93 billion, a PE ratio of -8.41, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The company’s 50 day moving average is $93.97 and its two-hundred day moving average is $98.90.

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

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. Crown Castle’s payout ratio is currently -39.98%.

Analysts Set New Price Targets

A number of research firms have commented on CCI. Barclays reduced their target price on Crown Castle from $120.00 to $104.00 and set an “overweight” rating on the stock in a research report on Monday, November 17th. JPMorgan Chase & Co. reduced their price objective 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. KeyCorp lowered their target price on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Citigroup dropped their price target on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. 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 report on Wednesday, October 1st. Three investment 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 given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.18.

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.