Crown Castle Inc. $CCI Shares Sold by RFG Advisory LLC

Key Points

• RFG Advisory LLC reduced its holdings in Crown Castle Inc. by 31.2%, owning 19,294 shares valued at approximately $1.98 million at the end of the last quarter.
• The company's stock has a 12-month low of $84.20 and a high of $115.89, currently trading at $98.13 after recent earnings that beat expectations.
• Crown Castle declared a quarterly dividend of $1.0625, resulting in an annualized dividend yield of 4.3%, despite a negative net margin of 85.54% in its latest earnings report.

RFG Advisory LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 31.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,294 shares of the real estate investment trust's stock after selling 8,755 shares during the period. RFG Advisory LLC's holdings in Crown Castle were worth $1,982,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. CWA Asset Management Group LLC lifted its stake in Crown Castle by 9.0% in the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock worth $278,000 after acquiring an additional 219 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust's stock worth $5,707,000 after acquiring an additional 5,144 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock worth $3,665,000 after acquiring an additional 4,276 shares during the last quarter. Legacy Advisors LLC purchased a new position in Crown Castle in the first quarter worth approximately $262,000. Finally, Inspire Trust Co. N.A. lifted its stake in Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust's stock worth $2,085,000 after acquiring an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

CCI stock opened at $98.13 on Thursday. The company has a fifty day moving average price of $97.70 and a 200 day moving average price of $100.75. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.89. The company has a market cap of $42.73 billion, a price-to-earnings ratio of -9.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Crown Castle's revenue for the quarter was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 yield of 4.3%. Crown Castle's dividend payout ratio is -39.83%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CCI shares. Raymond James Financial reiterated a "strong-buy" rating and issued a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Weiss Ratings reiterated a "sell (d)" rating on shares of Crown Castle in a research note on Wednesday, October 8th. Wolfe Research upgraded shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research report on Monday, September 22nd. BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $115.00 to $120.00 in a research report on Tuesday, August 19th. Finally, KeyCorp reduced their price objective on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.76.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.