Crown Castle Inc. $CCI Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc reduced its stake in Crown Castle Inc. by 30%, selling 72,624 shares, leaving it with 169,496 shares worth $17.4 million as of the last reporting period.
• Institutional investors hold 90.77% of Crown Castle's stock, with various firms like Vanguard and Deutsche Bank increasing their respective stakes significantly in the first quarter.
• Crown Castle reported $1.02 earnings per share last quarter, exceeding estimates, but showed a negative net margin of 85.54% and a revenue decrease of 4.2% from the previous year.

TD Asset Management Inc reduced its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 30.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,496 shares of the real estate investment trust's stock after selling 72,624 shares during the quarter. TD Asset Management Inc's holdings in Crown Castle were worth $17,412,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. Nuveen LLC bought a new position in Crown Castle during the 1st quarter valued at $305,876,000. Deutsche Bank AG boosted its stake in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock valued at $570,443,000 after purchasing an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Crown Castle by 144.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock valued at $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Crown Castle in the 1st quarter worth $149,661,000. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCI. UBS Group raised their target price on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. BMO Capital Markets reduced their price objective on shares of Crown Castle from $120.00 to $114.00 and set an "outperform" rating for the company in a research report on Friday. KeyCorp dropped their target price on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, September 17th. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Crown Castle currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.06.

Crown Castle Trading Down 0.5%

NYSE CCI opened at $97.57 on Friday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The company has a market cap of $42.49 billion, a PE ratio of -9.14, a PEG ratio of 0.74 and a beta of 0.95. The stock's 50-day moving average price is $97.40 and its two-hundred day moving average price is $100.66.

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

Crown Castle Announces Dividend

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

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