Voya Investment Management LLC Has $8.92 Million Stock Holdings in Crown Castle Inc. $CCI

Voya Investment Management LLC lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 34.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,459 shares of the real estate investment trust’s stock after selling 47,543 shares during the quarter. Voya Investment Management LLC’s holdings in Crown Castle were worth $8,921,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Norges Bank bought a new position in Crown Castle in the second quarter valued at approximately $629,431,000. Lazard Asset Management LLC boosted its stake in shares of Crown Castle by 3,051.5% during the 2nd quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after acquiring an additional 5,299,155 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $149,661,000. JPMorgan Chase & Co. raised its stake in Crown Castle by 33.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,657,030 shares of the real estate investment trust’s stock valued at $375,697,000 after acquiring an additional 926,721 shares during the period. Finally, BROOKFIELD Corp ON lifted its holdings in Crown Castle by 1,919.4% during the 1st quarter. BROOKFIELD Corp ON now owns 848,277 shares of the real estate investment trust’s stock valued at $88,416,000 after purchasing an additional 806,271 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of NYSE CCI opened at $87.41 on Wednesday. The business has a fifty day moving average price of $91.50 and a two-hundred day moving average price of $97.31. The stock has a market capitalization of $38.06 billion, a PE ratio of -8.22, a P/E/G ratio of 0.64 and a beta of 0.94. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week 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 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations 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 was down 4.3% on a year-over-year basis. During the same quarter last year, the business earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a $1.0625 dividend. The ex-dividend date is Monday, December 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. Crown Castle’s payout ratio is presently -39.98%.

Insider Buying and Selling at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the 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 SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CCI shares. BMO Capital Markets decreased their price objective on shares of Crown Castle from $114.00 to $107.00 and set an “outperform” rating on the stock in a report on Wednesday, December 3rd. Wells Fargo & Company decreased their price target on shares of Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 16th. UBS Group reissued a “buy” rating and issued a $127.00 price target on shares of Crown Castle in a report on Wednesday, December 10th. KeyCorp reduced their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research note on Monday. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $111.35.

Crown Castle Profile

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.