Bessemer Group Inc. Sells 5,095 Shares of Crown Castle Inc. $CCI

Bessemer Group Inc. reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 28.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,679 shares of the real estate investment trust’s stock after selling 5,095 shares during the quarter. Bessemer Group Inc.’s holdings in Crown Castle were worth $1,303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Iron Horse Wealth Management LLC purchased a new position in Crown Castle in the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC purchased a new position in shares of Crown Castle in the first quarter worth $26,000. Stone House Investment Management LLC purchased a new position in shares of Crown Castle in the first quarter worth $27,000. Rise Advisors LLC bought a new position in shares of Crown Castle during the first quarter valued at $28,000. Finally, WPG Advisers LLC purchased a new stake in shares of Crown Castle during the first quarter valued at $33,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $90.35 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The company’s fifty day simple moving average is $96.12 and its 200-day simple moving average is $100.50. The stock has a market capitalization of $39.35 billion, a PE ratio of -8.50, a P/E/G ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCI. KeyCorp dropped their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Raymond James Financial cut their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 23rd. UBS Group boosted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Barclays increased their price target on Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Finally, The Goldman Sachs Group lifted their price objective on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and an average target price of $113.12.

Insider Buying and Selling

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction 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. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

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.