Wellington Management Group LLP Sells 1,453,757 Shares of Crown Castle Inc. $CCI

Wellington Management Group LLP trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,325,403 shares of the real estate investment trust’s stock after selling 1,453,757 shares during the period. Wellington Management Group LLP owned approximately 4.07% of Crown Castle worth $1,312,053,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wiser Advisor Group LLC bought a new position in Crown Castle in the 3rd quarter worth approximately $29,000. Triumph Capital Management bought a new position in Crown Castle in the 3rd quarter valued at $31,000. Hilton Head Capital Partners LLC boosted its position in Crown Castle by 55.6% in the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 134 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Crown Castle in the 4th quarter valued at $34,000. Finally, Global Assets Advisory LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at $32,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wolfe Research downgraded Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a report on Wednesday, August 19th. Royal Bank Of Canada lowered their price objective on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Citizens Jmp dropped their price objective on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a report on Friday, July 24th. Finally, TD Cowen cut their target price on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $95.13.

Crown Castle Stock Performance

CCI opened at $76.09 on Friday. The company has a fifty day moving average price of $76.91 and a two-hundred day moving average price of $83.86. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $100.50. The firm has a market capitalization of $32.37 billion, a PE ratio of 38.62, a P/E/G ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.17). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.05 million. During the same period last year, the company earned $0.67 EPS. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities analysts forecast that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s dividend payout ratio is currently 215.74%.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total value of $113,835.00. Following the transaction, the vice president owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

About Crown Castle

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.