Crown Castle Inc. $CCI Shares Sold by Baird Financial Group Inc.

Key Points

• Baird Financial Group Inc. reduced its holdings in Crown Castle Inc. by 78.6% during the first quarter, now owning 7,383 shares valued at $770,000.
• The stock achieved a 0.6% increase, with current trading around $94.47 and a 52-week range between $84.20 and $120.92.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, resulting in an annualized dividend yield of 4.5%.

Baird Financial Group Inc. trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 78.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,383 shares of the real estate investment trust's stock after selling 27,093 shares during the quarter. Baird Financial Group Inc.'s holdings in Crown Castle were worth $770,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CCI. Cresset Asset Management LLC raised its stake in shares of Crown Castle by 88.7% in the fourth quarter. Cresset Asset Management LLC now owns 10,725 shares of the real estate investment trust's stock worth $973,000 after purchasing an additional 5,040 shares during the last quarter. Janus Henderson Group PLC raised its position in Crown Castle by 3.8% during the fourth quarter. Janus Henderson Group PLC now owns 64,672 shares of the real estate investment trust's stock valued at $5,869,000 after acquiring an additional 2,396 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in Crown Castle by 4.1% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 5,345 shares of the real estate investment trust's stock valued at $485,000 after acquiring an additional 211 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Crown Castle by 31.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 206,187 shares of the real estate investment trust's stock valued at $18,702,000 after acquiring an additional 49,687 shares in the last quarter. Finally, Meketa Capital LLC purchased a new position in Crown Castle during the fourth quarter valued at approximately $813,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. UBS Group lifted their price target on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. KeyCorp lifted their price target on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Scotiabank raised their price objective on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. JPMorgan Chase & Co. raised their price objective on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Barclays dropped their price objective on Crown Castle from $121.00 to $119.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.16 during trading on Friday, reaching $95.42. The stock had a trading volume of 2,929,959 shares, compared to its average volume of 3,650,974. The business has a fifty day moving average price of $102.67 and a 200-day moving average price of $101.45. The stock has a market cap of $41.55 billion, a PE ratio of -8.94, a PEG ratio of 0.73 and a beta of 0.92. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle's payout ratio is currently -39.83%.

About Crown Castle

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.