London Co. of Virginia Decreases Stock Holdings in Crown Castle Inc. $CCI

London Co. of Virginia reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,943,532 shares of the real estate investment trust’s stock after selling 90,712 shares during the quarter. Crown Castle accounts for approximately 1.7% of London Co. of Virginia’s portfolio, making the stock its 19th largest holding. London Co. of Virginia owned 0.68% of Crown Castle worth $302,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Holocene Advisors LP lifted its holdings in shares of Crown Castle by 16.1% in the second quarter. Holocene Advisors LP now owns 54,117 shares of the real estate investment trust’s stock valued at $5,559,000 after purchasing an additional 7,510 shares in the last quarter. ICONIQ Capital LLC raised its position in shares of Crown Castle by 13.9% during the 2nd quarter. ICONIQ Capital LLC now owns 3,352 shares of the real estate investment trust’s stock worth $344,000 after purchasing an additional 410 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Crown Castle by 106.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 13,806 shares of the real estate investment trust’s stock valued at $1,418,000 after buying an additional 7,112 shares in the last quarter. Engineers Gate Manager LP lifted its stake in Crown Castle by 15,775.2% in the 2nd quarter. Engineers Gate Manager LP now owns 390,054 shares of the real estate investment trust’s stock valued at $40,070,000 after buying an additional 387,597 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its holdings in Crown Castle by 8.7% during the 2nd quarter. Benjamin Edwards Inc. now owns 11,206 shares of the real estate investment trust’s stock valued at $1,151,000 after buying an additional 895 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

CCI opened at $90.98 on Friday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The company’s 50 day simple moving average is $92.72 and its 200 day simple moving average is $97.96. The stock has a market capitalization of $39.62 billion, a PE ratio of -8.56, a P/E/G ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. The firm 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%. Crown Castle’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts expect 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. Investors 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 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction dated 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 owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CCI shares. Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Wells Fargo & Company reduced their target price on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Barclays reiterated an “equal weight” rating and set a $101.00 price target (down from $104.00) on shares of Crown Castle in a report on Monday, December 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research note on Monday. Finally, JPMorgan Chase & Co. decreased their target price 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. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $111.59.

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.