Crown Castle Inc. $CCI Holdings Trimmed by Rockefeller Capital Management L.P.

Key Points

• Rockefeller Capital Management sharply cut its Crown Castle stake by 82% in the fourth quarter, selling 218,556 shares and leaving it with 47,815 shares valued at about $4.25 million.
• Crown Castle reported better-than-expected quarterly earnings, posting EPS of $1.02 versus estimates of $0.47 and revenue of $1.01 billion, though revenue still fell 4.9% year over year.
• The company declared a quarterly dividend of $1.0625 per share, equal to an annualized yield of 5.1%, while analysts currently maintain a consensus rating of Moderate Buy with an average price target of $98.52.

Rockefeller Capital Management L.P. reduced its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 82.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,815 shares of the real estate investment trust's stock after selling 218,556 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Crown Castle were worth $4,249,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Choreo LLC grew its holdings in shares of Crown Castle by 1.1% during the third quarter. Choreo LLC now owns 11,021 shares of the real estate investment trust's stock valued at $1,063,000 after buying an additional 120 shares in the last quarter. United Asset Strategies Inc. lifted its stake in Crown Castle by 2.5% in the 4th quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust's stock worth $438,000 after acquiring an additional 120 shares in the last quarter. Consolidated Portfolio Review Corp lifted its stake in Crown Castle by 1.1% in the 3rd quarter. Consolidated Portfolio Review Corp now owns 10,966 shares of the real estate investment trust's stock worth $1,058,000 after acquiring an additional 123 shares in the last quarter. Binnacle Investments Inc boosted its position in Crown Castle by 10.9% during the 3rd quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust's stock worth $125,000 after acquiring an additional 127 shares during the period. Finally, Integrated Advisors Network LLC boosted its position in Crown Castle by 5.6% during the 3rd quarter. Integrated Advisors Network LLC now owns 2,489 shares of the real estate investment trust's stock worth $240,000 after acquiring an additional 132 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

Shares of CCI stock opened at $82.58 on Friday. Crown Castle Inc. has a fifty-two week low of $75.96 and a fifty-two week high of $115.76. The stock's 50-day moving average is $88.61 and its two-hundred day moving average is $87.33. The firm has a market cap of $36.04 billion, a P/E ratio of 34.12, a PEG ratio of 0.42 and a beta of 0.93.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.55. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm's revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, research analysts expect 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 will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $1.0625 dividend. The ex-dividend date is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.1%. Crown Castle's payout ratio is 175.62%.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research reports. Truist Financial assumed coverage on Crown Castle in a report on Tuesday, March 31st. They issued a "hold" rating and a $90.00 target price on the stock. Zacks Research upgraded shares of Crown Castle from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. BMO Capital Markets boosted 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. Wolfe Research lowered shares of Crown Castle from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 20th. Finally, Jefferies Financial Group increased their target price on shares of Crown Castle from $84.00 to $89.00 and gave the stock a "hold" rating in a research report on Tuesday, April 14th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and an average target price 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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