Crown Castle Inc. $CCI Stock Holdings Lessened by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its stake in Crown Castle Inc. by 1.3%, now holding approximately 0.05% of the company, valued at $22.57 million.
• Crown Castle reported quarterly earnings of $1.02 per share, slightly exceeding consensus estimates, though its revenue saw a 4.2% year-over-year decline.
• The company announced a quarterly dividend of $1.0625, reflecting a 4.1% annual yield, with an ex-dividend date set for September 15th.

APG Asset Management N.V. lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 233,900 shares of the real estate investment trust's stock after selling 3,100 shares during the period. APG Asset Management N.V. owned 0.05% of Crown Castle worth $22,569,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Crown Castle by 9.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,759 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 233 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Crown Castle by 4.2% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 13,718 shares of the real estate investment trust's stock valued at $1,430,000 after purchasing an additional 547 shares during the last quarter. Allstate Corp grew its holdings in Crown Castle by 34.2% during the 1st quarter. Allstate Corp now owns 26,061 shares of the real estate investment trust's stock valued at $2,716,000 after buying an additional 6,636 shares in the last quarter. Compound Planning Inc. lifted its position in Crown Castle by 22.0% during the first quarter. Compound Planning Inc. now owns 2,803 shares of the real estate investment trust's stock valued at $292,000 after purchasing an additional 506 shares during the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in Crown Castle in the first quarter worth about $243,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Down 2.4%

Shares of Crown Castle stock traded down $2.39 during trading hours on Thursday, reaching $97.76. The stock had a trading volume of 3,276,586 shares, compared to its average volume of 3,233,169. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a 50 day simple moving average of $104.02 and a two-hundred day simple moving average of $100.89. The firm has a market capitalization of $42.57 billion, a price-to-earnings ratio of -9.16, a P/E/G ratio of 0.77 and a beta of 0.89.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the previous year, the company posted $1.62 earnings per share. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Analysts Set New Price Targets

Several research firms have commented on CCI. Royal Bank Of Canada raised their price objective on Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. BMO Capital Markets raised Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Barclays reduced their price target on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. KeyCorp upped their price target on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $105.00 to $125.00 in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, Crown Castle currently has an average rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle 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.