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

Key Points

• Ninety One UK Ltd reduced its Crown Castle stake by 53.7% in the third quarter, selling 207,300 shares and retaining 178,725 shares valued at approximately $11.9 million.
• Analyst sentiment is mixed, with Crown Castle holding an average “Hold” rating and a consensus price target of $94.07; several firms recently lowered their targets, while Weiss Ratings downgraded the stock to “Sell.”
• Crown Castle reported quarterly EPS of $0.69, beating estimates, and maintained a quarterly dividend of $1.0625, equivalent to a 5.3% annualized yield; shares recently traded near $79.97.

Ninety One UK Ltd cut its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 53.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 178,725 shares of the real estate investment trust's stock after selling 207,300 shares during the period. Ninety One UK Ltd's holdings in Crown Castle were worth $11,912,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CCI. Pingora Partners LLC acquired a new position in shares of Crown Castle during the second quarter worth $30,000. Hilton Head Capital Partners LLC grew its holdings in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 134 shares in the last quarter. Global Assets Advisory LLC acquired a new stake in Crown Castle during the 1st quarter valued at $32,000. MV Capital Management Inc. acquired a new stake in Crown Castle during the 4th quarter valued at $34,000. Finally, Anchor Investment Management LLC grew its holdings in Crown Castle by 242.8% during the 2nd quarter. Anchor Investment Management LLC now owns 473 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 335 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CCI shares. BMO Capital Markets cut their price objective on shares of Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. Citizens Jmp decreased their price objective on shares of Crown Castle from $125.00 to $120.00 and set a "market outperform" rating for the company in a research report on Friday, July 24th. Weiss Ratings cut shares of Crown Castle from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th. Jefferies Financial Group lowered their target price on Crown Castle from $88.00 to $82.00 and set a "hold" rating for the company in a research note on Wednesday, July 15th. Finally, Truist Financial lowered their target price on Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a research note on Tuesday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $94.07.

Insider Activity

In other news, VP Robert Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares of the company's stock, valued at approximately $388,025.57. The trade was a 22.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company's stock.

Crown Castle Trading Up 0.7%

Shares of NYSE CCI opened at $79.97 on Friday. The company has a market capitalization of $34.02 billion, a price-to-earnings ratio of 40.59, a price-to-earnings-growth ratio of 0.71 and a beta of 0.94. Crown Castle Inc. has a twelve month low of $65.32 and a twelve month high of $100.50. The business has a 50 day simple moving average of $73.64 and a 200-day simple moving average of $80.60.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.18. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the business posted $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 4.38 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Tuesday, September 15th. Crown Castle's dividend payout ratio (DPR) is presently 215.74%.

Crown Castle Profile

Crown Castle Inc NYSE: CCI is a communications infrastructure company that owns, operates and leases wireless communications assets in the United States. Its infrastructure helps wireless carriers, government agencies and other customers expand network coverage and capacity for voice, data and other wireless services.

The company's portfolio includes cell towers and fiber-based infrastructure. Crown Castle provides space on its towers for wireless equipment and offers fiber solutions that support small-cell networks, distributed antenna systems and other high-capacity communications applications.

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.