Atria Wealth Solutions Inc. Sells 7,761 Shares of Crown Castle Inc. $CCI

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Crown Castle Inc. by 45.6%, selling 7,761 shares and now holding 9,265 shares worth approximately $952,000.
• Despite recent adjustments from various large investors, including a 10.1% increase in holdings by Vanguard Group Inc., institutional investors collectively own 90.77% of Crown Castle's stock.
• Crown Castle announced a quarterly dividend of $1.0625 per share with a yield of 4.4%, while its earnings report showed a decrease in revenue by 4.2% year-over-year.

Atria Wealth Solutions Inc. lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 45.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 9,265 shares of the real estate investment trust's stock after selling 7,761 shares during the period. Atria Wealth Solutions Inc.'s holdings in Crown Castle were worth $952,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings 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 purchasing an additional 6,341,150 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Crown Castle by 2.6% during the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust's stock valued at $2,229,260,000 after acquiring an additional 538,049 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Crown Castle by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust's stock valued at $624,584,000 after acquiring an additional 72,511 shares during the period. Deutsche Bank AG lifted its stake in shares of Crown Castle by 60.9% during 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 during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Crown Castle by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust's stock valued at $543,264,000 after acquiring an additional 90,371 shares during the period. Institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BMO Capital Markets cut their price target on Crown Castle from $120.00 to $114.00 and set an "outperform" rating on the stock in a research note on Friday. KeyCorp cut their price target on Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, September 17th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Crown Castle in a research note on Wednesday, October 8th. Finally, UBS Group upped their price target on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $114.06.

Crown Castle Trading Down 0.5%

NYSE:CCI opened at $97.57 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The business's 50-day moving average price is $97.40 and its two-hundred day moving average price is $100.66. The firm has a market capitalization of $42.49 billion, a price-to-earnings ratio of -9.14, a PEG ratio of 0.74 and a beta of 0.95.

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 for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates 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 prior year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current 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 given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. Crown Castle's dividend payout ratio (DPR) is currently -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.

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