Crown Castle Inc. $CCI Shares Sold by Ninety One UK Ltd

Key Points

• Ninety One UK Ltd reduced its stake in Crown Castle Inc. by 3.9%, owning 432,482 shares valued at approximately $44.4 million following the sale of 17,730 shares.
• Analysts have increased their price targets for Crown Castle, with UBS raising it from $124 to $127 and several firms maintaining "buy" ratings, resulting in an average consensus target price of $115.82.
• Crown Castle recently reported a quarterly EPS of $1.02, exceeding expectations, despite a year-over-year revenue decline of 4.2%, and announced a quarterly dividend of $1.0625.

Ninety One UK Ltd lessened its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 432,482 shares of the real estate investment trust's stock after selling 17,730 shares during the period. Ninety One UK Ltd owned 0.10% of Crown Castle worth $44,429,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CCI. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $26,000. Iron Horse Wealth Management LLC acquired a new position in Crown Castle in the 1st quarter valued at $26,000. Centerpoint Advisors LLC acquired a new position in Crown Castle in the 1st quarter valued at $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle in the 1st quarter valued at $27,000. Finally, Rise Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth about $28,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analysts Set New Price Targets

CCI has been the topic of a number of recent analyst reports. UBS Group boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Scotiabank boosted their target price on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Wolfe Research raised Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a report on Monday, September 22nd. Finally, BMO Capital Markets raised Crown Castle from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.82.

Crown Castle Stock Performance

Crown Castle stock opened at $96.41 on Wednesday. The firm has a market capitalization of $41.98 billion, a price-to-earnings ratio of -9.04, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $119.56. The stock's fifty day moving average is $100.33 and its two-hundred day moving average is $101.30.

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, beating analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations 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 revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle's dividend payout ratio is currently -39.83%.

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.

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