King Luther Capital Management Corp Has $323,000 Stake in Crown Castle Inc. $CCI

King Luther Capital Management Corp reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 16.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,141 shares of the real estate investment trust’s stock after selling 598 shares during the period. King Luther Capital Management Corp’s holdings in Crown Castle were worth $323,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Centerpoint Advisors LLC acquired a new position in Crown Castle in the first quarter valued at about $26,000. Stone House Investment Management LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at about $27,000. Rise Advisors LLC bought a new stake in Crown Castle in the first quarter valued at approximately $28,000. NewSquare Capital LLC increased its stake in Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV raised its holdings in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’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 completion of the transaction, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by insiders.

Crown Castle Stock Performance

NYSE CCI opened at $94.34 on Wednesday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The stock’s 50 day moving average price is $94.80 and its two-hundred day moving average price is $99.90. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of -8.88, a PEG ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the company earned $1.84 earnings per share. The firm’s 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. On average, equities research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research analyst reports. Wells Fargo & Company decreased their price target on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Scotiabank boosted their target price on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Monday, September 22nd. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, The Goldman Sachs Group raised their target price on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.12.

About Crown Castle

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.