Bahl & Gaynor Inc. Sells 26,588 Shares of Crown Castle Inc. $CCI

Key Points

• Bahl & Gaynor Inc. cut its stake in Crown Castle Inc. by 43.8%, now holding 34,175 shares valued at approximately $3.56 million.
• Several institutional investors have entered positions in Crown Castle, indicating a strong institutional interest, with 90.77% of the stock owned by such entities.
• Wall Street analysts show positive sentiment towards Crown Castle, with a consensus rating of "Moderate Buy" and a price target of $116.41, following multiple upgrades from various firms.

Bahl & Gaynor Inc. reduced its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 43.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,175 shares of the real estate investment trust's stock after selling 26,588 shares during the period. Bahl & Gaynor Inc.'s holdings in Crown Castle were worth $3,562,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CHICAGO TRUST Co NA raised its holdings in shares of Crown Castle by 3.0% during the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after acquiring an additional 104 shares during the period. Harbour Investments Inc. raised its holdings in shares of Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 107 shares during the period. Abel Hall LLC raised its holdings in shares of Crown Castle by 1.8% during the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock valued at $666,000 after acquiring an additional 115 shares during the period. Beacon Capital Management LLC raised its holdings in shares of Crown Castle by 36.6% during the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock valued at $47,000 after acquiring an additional 120 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Crown Castle by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock valued at $3,894,000 after acquiring an additional 120 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 2.4%

Shares of CCI traded down $2.39 during mid-day trading on Thursday, hitting $97.76. 3,246,800 shares of the company's stock were exchanged, compared to its average volume of 3,224,863. The firm has a fifty day moving average of $104.02 and a two-hundred day moving average of $100.89. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock has a market cap 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 announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $1.62 EPS. Crown Castle's quarterly revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

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

Analyst Ratings Changes

CCI has been the topic of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $105.00 to $125.00 in a report on Thursday, July 24th. Citigroup boosted their price target on shares of Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a report on Monday, May 5th. Bank of America initiated coverage on shares of Crown Castle in a research note on Monday, May 19th. They issued a "buy" rating and a $115.00 price objective on the stock. BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.