Anchor Capital Advisors LLC Sells 58,253 Shares of Crown Castle Inc. $CCI

Key Points

• Anchor Capital Advisors LLC reduced its stake in Crown Castle by 13% in the fourth quarter, selling 58,253 shares and leaving it with 390,144 shares valued at about $34.7 million.
• Crown Castle reported quarterly EPS of $1.02, well above the $0.47 analyst estimate, while revenue came in slightly ahead of expectations at $1.01 billion despite a 4.9% year-over-year decline.
• The company declared a quarterly dividend of $1.0625 per share, implying an annualized yield of about 4.7%; analysts currently rate the stock a Moderate Buy with a consensus price target of $98.52.

Anchor Capital Advisors LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 390,144 shares of the real estate investment trust's stock after selling 58,253 shares during the quarter. Anchor Capital Advisors LLC owned about 0.09% of Crown Castle worth $34,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Norges Bank bought a new position in Crown Castle during the fourth quarter worth $594,670,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Crown Castle by 591.8% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust's stock worth $431,418,000 after buying an additional 3,824,778 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Crown Castle by 422.5% during the fourth quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust's stock worth $318,258,000 after buying an additional 2,895,756 shares in the last quarter. Invesco Ltd. boosted its stake in Crown Castle by 33.2% during the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust's stock worth $621,172,000 after buying an additional 1,605,291 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Crown Castle during the third quarter worth $121,726,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 1.2%

Shares of NYSE:CCI opened at $89.94 on Wednesday. The stock has a market capitalization of $39.26 billion, a P/E ratio of 37.17, a P/E/G ratio of 0.46 and a beta of 0.93. The business has a 50-day moving average price of $86.80 and a two-hundred day moving average price of $87.64. Crown Castle Inc. has a 1-year low of $75.96 and a 1-year high of $115.76.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.55. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $995.42 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.Crown Castle's revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. Crown Castle's dividend payout ratio is 175.62%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Crown Castle from $110.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. The Goldman Sachs Group reduced their target price on shares of Crown Castle from $105.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, February 5th. Weiss Ratings restated a "hold (c-)" rating on shares of Crown Castle in a research note on Friday, May 22nd. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Finally, BMO Capital Markets raised their price objective on shares of Crown Castle from $91.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of "Moderate Buy" and a consensus price target of $98.52.

Crown Castle Company 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.

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