1832 Asset Management L.P. Lowers Holdings in Crown Castle Inc. $CCI

Key Points

• 1832 Asset Management L.P. has reduced its stake in Crown Castle Inc. by 47.1%, now holding 86,860 shares worth approximately $9.05 million.
• Several institutional investors have also increased their stakes, with the majority of Crown Castle's stock (90.77%) owned by hedge funds and other entities.
• Analysts are optimistic about Crown Castle's stock, with multiple upgrades and a consensus target price of $116.41, reflecting a "Moderate Buy" rating.

1832 Asset Management L.P. reduced its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 47.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,860 shares of the real estate investment trust's stock after selling 77,269 shares during the period. 1832 Asset Management L.P.'s holdings in Crown Castle were worth $9,053,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in Crown Castle in the 4th quarter valued at $2,442,000. First Trust Advisors LP grew its holdings in shares of Crown Castle by 44.8% during the fourth quarter. First Trust Advisors LP now owns 164,322 shares of the real estate investment trust's stock worth $14,914,000 after buying an additional 50,874 shares in the last quarter. MGO One Seven LLC grew its holdings in shares of Crown Castle by 10.8% during the fourth quarter. MGO One Seven LLC now owns 8,141 shares of the real estate investment trust's stock worth $739,000 after buying an additional 793 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Crown Castle by 7.3% in the fourth quarter. Integrated Wealth Concepts LLC now owns 6,931 shares of the real estate investment trust's stock valued at $629,000 after buying an additional 473 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Crown Castle by 29.2% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 9,173 shares of the real estate investment trust's stock worth $833,000 after buying an additional 2,074 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Down 2.4%

Shares of CCI traded down $2.39 during trading on Thursday, reaching $97.76. 3,246,800 shares of the company traded hands, compared to its average volume of 3,224,863. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock has a market cap of $42.57 billion, a PE ratio of -9.16, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. The stock has a 50-day simple moving average of $104.02 and a 200-day simple moving average of $100.89.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business posted $1.62 EPS. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is currently -39.83%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CCI shares. Citigroup boosted their price target on shares of Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. New Street Research upgraded Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. UBS Group increased their price target on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a report on Friday, July 25th. JMP Securities reiterated a "market outperform" rating and set a $125.00 price objective on shares of Crown Castle in a research report on Thursday, July 24th. Finally, BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and upped their target price for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $116.41.

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.