Korea Investment CORP Trims Position in Crown Castle Inc. $CCI

Korea Investment CORP cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 33.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 198,659 shares of the real estate investment trust’s stock after selling 97,798 shares during the quarter. Korea Investment CORP’s holdings in Crown Castle were worth $20,706,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Iron Horse Wealth Management LLC purchased a new position in Crown Castle during the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC purchased a new position in Crown Castle during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in Crown Castle during the 1st quarter worth approximately $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth approximately $27,000. Finally, American National Bank & Trust acquired a new stake in shares of Crown Castle during the 1st quarter worth approximately $29,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on CCI. New Street Research raised shares of Crown Castle from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 1st. Raymond James Financial reaffirmed a “strong-buy” rating and set a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Citigroup raised their price objective on shares of Crown Castle from $108.00 to $124.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. BMO Capital Markets raised shares of Crown Castle from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $115.00 to $120.00 in a research note on Tuesday. Finally, KeyCorp raised their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.41.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $102.7150 on Thursday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a market capitalization of $44.73 billion, a price-to-earnings ratio of -9.63, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89. The business’s 50 day moving average price is $103.71 and its 200-day moving average price is $100.45.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.62 EPS. The business’s revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.1%. Crown Castle’s dividend payout ratio (DPR) is -39.83%.

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.