Bokf Na Lowers Holdings in Crown Castle Inc. $CCI

Key Points

• Bokf Na cut its stake in Crown Castle by 48% in the fourth quarter, selling 18,424 shares and ending with 19,974 shares valued at about $1.78 million.
• Wall Street sentiment is mixed, with recent analyst actions including a Goldman Sachs target cut, a BMO target increase, and a Wall Street Zen downgrade to sell; the stock’s consensus rating remains Moderate Buy with a $99.39 target.
• Crown Castle reported stronger-than-expected quarterly earnings, posting $1.02 EPS versus $0.47 expected, while revenue came in at $1.01 billion; the company also pays a quarterly dividend of $1.0625 per share, or $4.25 annually.

Bokf Na trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 48.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,974 shares of the real estate investment trust's stock after selling 18,424 shares during the period. Bokf Na's holdings in Crown Castle were worth $1,775,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Crown Castle by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust's stock valued at $6,200,406,000 after purchasing an additional 386,733 shares in the last quarter. State Street Corp grew its position in shares of Crown Castle by 1.2% in the 3rd quarter. State Street Corp now owns 21,728,541 shares of the real estate investment trust's stock worth $2,096,587,000 after buying an additional 266,963 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Crown Castle by 33.2% during the 3rd quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust's stock valued at $621,172,000 after purchasing an additional 1,605,291 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Crown Castle by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,185,915 shares of the real estate investment trust's stock valued at $596,876,000 after purchasing an additional 177,896 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in Crown Castle by 4.3% in the 3rd quarter. Legal & General Group Plc now owns 5,621,490 shares of the real estate investment trust's stock worth $542,418,000 after purchasing an additional 232,549 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. The Goldman Sachs Group dropped 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 report on Thursday, February 5th. Jefferies Financial Group raised their price target on shares of Crown Castle from $84.00 to $89.00 and gave the stock a "hold" rating in a report on Tuesday, April 14th. Wall Street Zen downgraded shares of Crown Castle from a "hold" rating to a "sell" rating in a research note on Saturday, April 25th. BMO Capital Markets increased their price target on shares of Crown Castle from $91.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Finally, Weiss Ratings upgraded Crown Castle from a "sell (d)" rating to a "hold (c-)" rating in a research report on Tuesday, February 24th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.39.

Insiders Place Their Bets

In related news, EVP Edward B. Adams, Jr. sold 4,650 shares of the business's stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares of the company's stock, valued at approximately $2,174,300.22. The trade was a 15.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Robert Sean Collins sold 3,000 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total transaction of $262,470.00. Following the transaction, the vice president directly owned 5,800 shares in the company, valued at $507,442. The trade was a 34.09% decrease in their position. The SEC filing for this sale provides additional information. 0.09% of the stock is currently owned by corporate insiders.

Crown Castle Trading Down 0.6%

Shares of CCI stock opened at $90.55 on Friday. Crown Castle Inc. has a 12 month low of $75.96 and a 12 month high of $115.76. The company has a market cap of $39.51 billion, a P/E ratio of 37.42, a PEG ratio of 0.46 and a beta of 0.93. The firm has a fifty day moving average price of $85.93 and a 200 day moving average price of $87.99.

Crown Castle (NYSE:CCI - Get Free Report) last posted its 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. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.42 million. During the same period last year, the firm posted $1.10 EPS. The company's revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle's payout ratio is presently 175.62%.

Crown Castle 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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