Anderson Hoagland & Co. Sells 5,435 Shares of Crown Castle Inc. $CCI

Key Points

• Anderson Hoagland & Co. reduced its holdings in Crown Castle Inc. by 18.4%, selling 5,435 shares, bringing their total ownership to 24,143 shares valued at approximately $2.48 million.
• Several hedge funds, including Vanguard Group and Deutsche Bank, have increased their stakes in Crown Castle Inc., with institutional investors now owning 90.77% of the stock.
• Crown Castle recently announced a quarterly dividend of $1.0625 per share, representing a 4.6% dividend yield, with the ex-dividend date set for September 15th.

Anderson Hoagland & Co. lowered its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 18.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,143 shares of the real estate investment trust's stock after selling 5,435 shares during the period. Anderson Hoagland & Co.'s holdings in Crown Castle were worth $2,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock valued at $7,175,256,000 after buying an additional 6,341,150 shares in the last quarter. Nuveen LLC bought a new stake in shares of Crown Castle in the first quarter valued at about $305,876,000. Deutsche Bank AG grew its stake in shares of Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock valued at $570,443,000 after acquiring an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock worth $357,834,000 after acquiring an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. bought a new position in Crown Castle during the first quarter worth about $149,661,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on CCI. Royal Bank Of Canada boosted their price objective on shares of Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, August 7th. BMO Capital Markets upgraded Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Scotiabank upped their target price on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.18.

Crown Castle Stock Performance

Crown Castle stock opened at $93.02 on Friday. The stock has a fifty day moving average of $101.94 and a 200-day moving average of $101.38. The stock has a market capitalization of $40.51 billion, a P/E ratio of -8.72, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $119.56.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for 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 business's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. Crown Castle's dividend payout ratio is -39.83%.

About Crown Castle

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.

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