Crown Castle Inc. $CCI Stake Decreased by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management reduced its Crown Castle stake by 9.9%, selling 100,644 shares and retaining 919,968 shares worth approximately $69.7 million. Institutional investors collectively own 90.77% of CCI.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $94.37. Recent ratings range from “Buy” and “Market Outperform” to “Hold.”
• Crown Castle beat quarterly earnings expectations with $0.69 EPS and $1.01 billion in revenue, though revenue declined 4.9% year over year. The company declared a quarterly dividend of $1.0625 per share, representing a 6.3% annualized yield.

Envestnet Asset Management Inc. cut its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 919,968 shares of the real estate investment trust's stock after selling 100,644 shares during the period. Envestnet Asset Management Inc. owned approximately 0.22% of Crown Castle worth $69,669,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new position in shares of Crown Castle during the second quarter worth about $168,855,000. Royal Bank of Canada grew its stake in shares of Crown Castle by 28.6% in the first quarter. Royal Bank of Canada now owns 4,222,008 shares of the real estate investment trust's stock valued at $343,291,000 after buying an additional 938,653 shares in the last quarter. Saudi Central Bank grew its stake in shares of Crown Castle by 89.9% in the second quarter. Saudi Central Bank now owns 30,525 shares of the real estate investment trust's stock valued at $2,312,000 after buying an additional 14,451 shares in the last quarter. Aberdeen Group plc raised its holdings in shares of Crown Castle by 4.9% during the 2nd quarter. Aberdeen Group plc now owns 1,054,126 shares of the real estate investment trust's stock valued at $79,829,000 after buying an additional 49,485 shares during the period. Finally, Junto Capital Management LP purchased a new stake in shares of Crown Castle during the 2nd quarter valued at about $68,627,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of analyst reports. The Goldman Sachs Group began coverage on Crown Castle in a report on Friday, June 26th. They issued a "neutral" rating and a $95.00 price target for the company. Jefferies Financial Group reduced their target price on shares of Crown Castle from $88.00 to $82.00 and set a "hold" rating on the stock in a research report on Wednesday, July 15th. TD Cowen reduced their target price on shares of Crown Castle from $94.00 to $92.00 and set a "buy" rating on the stock in a research report on Thursday, July 23rd. Citigroup restated a "market outperform" rating on shares of Crown Castle in a research note on Friday, July 24th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Crown Castle in a research note on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $94.37.

Crown Castle Stock Up 0.2%

Shares of NYSE CCI opened at $67.80 on Friday. Crown Castle Inc. has a fifty-two week low of $66.83 and a fifty-two week high of $100.50. The business has a 50 day moving average price of $74.86 and a two-hundred day moving average price of $81.82. The firm has a market cap of $28.84 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 0.61 and a beta of 0.95.

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

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Tuesday, September 15th. Crown Castle's dividend payout ratio is 215.74%.

Insiders Place Their Bets

In other news, VP Robert Collins sold 1,500 shares of the business's 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 sale, the vice president 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by corporate insiders.

About Crown Castle

Crown Castle Inc NYSE: CCI is a communications infrastructure company that owns, operates and leases shared wireless infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company's primary infrastructure includes cell towers and other tower sites that host antennas and related equipment. Crown Castle has also developed and operated fiber networks and small-cell systems, which help wireless providers expand network capacity and coverage in densely populated areas and along high-traffic corridors.

Founded in 1994 and headquartered in Houston, Texas, Crown Castle has historically served customers across major U.S.

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