Y Intercept Hong Kong Ltd Buys Shares of 16,312 Crown Castle Inc. $CCI

Y Intercept Hong Kong Ltd purchased a new position in Crown Castle Inc. (NYSE:CCI) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 16,312 shares of the real estate investment trust’s stock, valued at approximately $1,676,000.

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

Crown Castle Price Performance

Crown Castle stock opened at $90.35 on Friday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76. The firm’s 50 day simple moving average is $96.12 and its 200-day simple moving average is $100.50. The company has a market cap of $39.35 billion, a P/E ratio of -8.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $1.84 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of several research reports. 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 research report on Wednesday, September 17th. Raymond James Financial dropped their target price 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. Citigroup cut their target price on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. Scotiabank lifted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Finally, Wells Fargo & Company dropped their price target on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.12.

Crown Castle 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.