Candriam S.C.A. Sells 7,407 Shares of Crown Castle Inc. $CCI

Key Points

• Candriam S.C.A. reduced its shareholding in Crown Castle Inc. by 16.5%, now owning 37,574 shares valued at approximately $3.9 million.
• Crown Castle recently reported a quarterly EPS of $1.02, surpassing analysts' expectations, although revenue was down 4.2% year-over-year.
• The company declared a quarterly dividend of $1.0625 per share, representing a 4.1% yield, with payout scheduled for September 30th.

Candriam S.C.A. trimmed its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 16.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,574 shares of the real estate investment trust's stock after selling 7,407 shares during the quarter. Candriam S.C.A.'s holdings in Crown Castle were worth $3,916,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CCI. Opal Wealth Advisors LLC acquired a new position in Crown Castle in the 1st quarter worth approximately $26,000. Iron Horse Wealth Management LLC purchased a new stake in shares of Crown Castle in the first quarter worth approximately $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle during the first quarter worth approximately $26,000. Stone House Investment Management LLC purchased a new position in Crown Castle during the first quarter valued at approximately $27,000. Finally, American National Bank & Trust acquired a new position in Crown Castle in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. KeyCorp increased their price objective on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. UBS Group boosted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Bank of America began coverage on shares of Crown Castle in a report on Monday, May 19th. They set a "buy" rating and a $115.00 price target for the company. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price objective (up from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.41.

Crown Castle Stock Performance

NYSE CCI traded down $1.60 during trading hours on Thursday, reaching $98.55. 910,182 shares of the company's stock were exchanged, compared to its average volume of 3,218,348. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company's 50-day moving average is $104.02 and its two-hundred day moving average is $100.89. The company has a market capitalization of $42.92 billion, a price-to-earnings ratio of -9.23, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm's quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the business posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given 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 yield of 4.3%. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Crown Castle Company 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.