Crown Castle Inc. $CCI is Bayforest Capital Ltd’s 2nd Largest Position

Bayforest Capital Ltd trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 5.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,638 shares of the real estate investment trust’s stock after selling 1,039 shares during the period. Crown Castle makes up 0.7% of Bayforest Capital Ltd’s investment portfolio, making the stock its 2nd biggest holding. Bayforest Capital Ltd’s holdings in Crown Castle were worth $1,709,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. CWA Asset Management Group LLC grew its stake in Crown Castle by 9.0% in the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 219 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Crown Castle by 10.2% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock valued at $5,707,000 after purchasing an additional 5,144 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Crown Castle by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock valued at $3,665,000 after purchasing an additional 4,276 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of Crown Castle during the 1st quarter valued at $262,000. Finally, Inspire Trust Co. N.A. grew its position in shares of Crown Castle by 25.0% during the 1st quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock valued at $2,085,000 after purchasing an additional 4,000 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CCI. Barclays lifted their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. KeyCorp dropped their price objective on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. JPMorgan Chase & Co. lifted their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle and gave the stock an “outperform” rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and an average price target of $115.76.

Crown Castle Trading Down 1.5%

Shares of NYSE:CCI opened at $96.13 on Tuesday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.89. The company has a 50-day moving average price of $98.00 and a 200-day moving average price of $100.80. The company has a market cap of $41.86 billion, a price-to-earnings ratio of -9.01, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. Crown Castle’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. Crown Castle’s dividend payout ratio (DPR) is currently -39.83%.

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.