Ameriprise Financial Inc. Trims Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Ameriprise Financial Inc. has reduced its stake in Crown Castle Inc. by 24.2% to about $47.92 million, resulting in ownership of 459,745 shares.
• Crown Castle's recent quarterly earnings reported a net loss margin of 85.54%, with a revenue decline of 4.2% year-over-year, although it beat EPS estimates of $1.00 by posting $1.02.
• The company announced a quarterly dividend of $1.0625 per share, equating to a 4.3% annual yield, set to be paid on September 30th.

Ameriprise Financial Inc. decreased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 24.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 459,745 shares of the real estate investment trust's stock after selling 146,852 shares during the period. Ameriprise Financial Inc. owned 0.11% of Crown Castle worth $47,924,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Crown Castle by 10.1% during the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after acquiring an additional 6,341,150 shares during the last quarter. Nuveen LLC bought a new stake in Crown Castle in the 1st quarter valued at $305,876,000. Deutsche Bank AG boosted its holdings in shares of Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock valued at $570,443,000 after purchasing an additional 2,072,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Crown Castle by 144.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock valued at $357,834,000 after purchasing an additional 2,028,718 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Crown Castle by 107.3% during the first quarter. JPMorgan Chase & Co. now owns 2,730,309 shares of the real estate investment trust's stock valued at $284,580,000 after purchasing an additional 1,412,992 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on CCI shares. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. Citigroup lifted their price objective on Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. UBS Group lifted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. KeyCorp lifted their price objective on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Finally, Scotiabank lifted their price objective on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $1.44 on Friday, reaching $99.18. The company had a trading volume of 3,262,933 shares, compared to its average volume of 2,993,643. The firm has a market cap of $43.19 billion, a price-to-earnings ratio of -9.30, a P/E/G ratio of 0.75 and a beta of 0.92. The firm's 50-day moving average price is $103.98 and its two-hundred day moving average price is $101.08. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

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

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.0625 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.3%. Crown Castle's payout ratio is -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.