Crown Castle Inc. $CCI Shares Sold by AlphaCore Capital LLC

AlphaCore Capital LLC decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 49.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,172 shares of the real estate investment trust’s stock after selling 5,929 shares during the period. AlphaCore Capital LLC’s holdings in Crown Castle were worth $548,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CCI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Crown Castle by 591.8% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock valued at $431,418,000 after acquiring an additional 3,824,778 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Crown Castle by 422.5% in the 4th quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock valued at $318,258,000 after purchasing an additional 2,895,756 shares in the last quarter. Invesco Ltd. raised its position in shares of Crown Castle by 33.2% in the 3rd quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after purchasing an additional 1,605,291 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in shares of Crown Castle in the 3rd quarter valued at approximately $121,726,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Crown Castle by 42.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,931,258 shares of the real estate investment trust’s stock valued at $379,327,000 after purchasing an additional 1,168,132 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCI. Truist Financial began coverage on shares of Crown Castle in a research note on Tuesday, March 31st. They issued a “hold” rating and a $90.00 target price on the stock. Jefferies Financial Group upped their price target on Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research report on Tuesday, April 14th. Zacks Research raised Crown Castle from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Raymond James Financial upped their price target on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $85.00 price objective (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Insider Activity at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the transaction, the vice president owned 5,800 shares in the company, valued at approximately $507,442. The trade was a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares in the company, valued at approximately $2,174,300.22. This trade represents a 15.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.09% of the company’s stock.

Crown Castle Price Performance

NYSE CCI opened at $92.39 on Wednesday. Crown Castle Inc. has a 12 month low of $75.96 and a 12 month high of $115.76. The firm has a market capitalization of $40.32 billion, a PE ratio of 38.18, a P/E/G ratio of 0.46 and a beta of 0.93. The company’s 50 day simple moving average is $86.03 and its 200 day simple moving average is $87.58.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.42 million. During the same quarter last year, the business earned $1.10 earnings per share. The business’s revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Sell-side analysts anticipate that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Friday, March 13th. Crown Castle’s payout ratio is presently 175.62%.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.