Candriam S.C.A. Raises Stake in Crown Castle Inc. $CCI

Candriam S.C.A. boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,369 shares of the real estate investment trust’s stock after acquiring an additional 1,795 shares during the period. Candriam S.C.A.’s holdings in Crown Castle were worth $4,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle during the 1st quarter worth about $27,000. Rise Advisors LLC purchased a new stake in Crown Castle during the 1st quarter worth about $28,000. NewSquare Capital LLC lifted its holdings in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its holdings in shares of Crown Castle by 47.8% in 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 acquiring an additional 98 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the transaction, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CCI. KeyCorp cut their target price on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Raymond James Financial cut their price objective on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 23rd. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research report on Monday, September 22nd. Finally, Citigroup reduced their price target on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued 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 a consensus rating of “Moderate Buy” and a consensus price target of $113.12.

Crown Castle Trading Up 1.1%

Shares of CCI opened at $91.64 on Friday. The company’s 50 day simple moving average is $94.55 and its 200-day simple moving average is $99.70. The firm has a market cap of $39.91 billion, a PE ratio of -8.62, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned $1.84 EPS. Crown Castle’s quarterly revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.6%. Crown Castle’s dividend payout ratio (DPR) 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.