Metis Global Partners LLC Sells 1,995 Shares of Crown Castle Inc. $CCI

Metis Global Partners LLC decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.2% in the second quarter, HoldingsChannel reports. The fund owned 25,832 shares of the real estate investment trust’s stock after selling 1,995 shares during the quarter. Metis Global Partners LLC’s holdings in Crown Castle were worth $2,654,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB lifted 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 valued at $1,055,000 after purchasing an additional 93 shares in the last quarter. Creative Financial Designs Inc. ADV lifted its position 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 valued at $31,000 after buying an additional 98 shares in the last quarter. Harbour Investments Inc. grew its stake 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 period. Whittier Trust Co. increased 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 acquiring an additional 109 shares in the last quarter. Finally, Abel Hall LLC raised its stake in Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock worth $666,000 after acquiring an additional 115 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction 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 in the company, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CCI. KeyCorp dropped their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. UBS Group upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Weiss Ratings restated a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday, October 30th. Finally, BMO Capital Markets cut their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.12.

Crown Castle Stock Up 2.0%

Shares of Crown Castle stock opened at $89.54 on Monday. The firm has a market cap of $38.99 billion, a price-to-earnings ratio of -8.42, a PEG ratio of 0.68 and a beta of 0.94. The business has a 50-day moving average price of $95.03 and a 200-day moving average price of $100.01. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $1.84 earnings per share. 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. On average, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced 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. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

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.