DekaBank Deutsche Girozentrale Decreases Stock Position in Crown Castle Inc. $CCI

Key Points

• DekaBank Deutsche Girozentrale has reduced its stake in Crown Castle Inc. by 2.2%, now owning approximately 263,196 shares valued at $26.54 million.
• Crown Castle reported $1.12 EPS for the quarter, surpassing the consensus estimate of $1.04, although revenue decreased by 4.3% year-over-year.
• The company also declared a quarterly dividend of $1.0625 per share, equivalent to a 4.4% yield, with a negative dividend payout ratio of -39.83%.

DekaBank Deutsche Girozentrale lessened its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,196 shares of the real estate investment trust's stock after selling 5,930 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.06% of Crown Castle worth $26,544,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of 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 valued at $5,707,000 after acquiring an additional 5,144 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Crown Castle by 13.9% during 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 buying an additional 4,276 shares in the last quarter. Legacy Advisors LLC acquired a new position in Crown Castle during the first quarter worth $262,000. Inspire Trust Co. N.A. grew its holdings in Crown Castle by 25.0% in the 1st quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust's stock valued at $2,085,000 after buying an additional 4,000 shares in the last quarter. Finally, Global Wealth Management Investment Advisory Inc. increased its stake in shares of Crown Castle by 44.1% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 49,819 shares of the real estate investment trust's stock worth $5,193,000 after acquiring an additional 15,249 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Performance

Crown Castle stock opened at $97.66 on Thursday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76. The company has a market capitalization of $42.53 billion, a P/E ratio of -9.15, a PEG ratio of 0.75 and a beta of 0.95. The stock has a 50-day simple moving average of $97.15 and a 200-day simple moving average of $100.55.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $1.84 EPS. The business's quarterly revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently commented on CCI. JMP Securities reissued a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wolfe Research raised 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. Citigroup lowered their price objective on Crown Castle from $124.00 to $110.00 and set a "buy" rating for the company in a research report on Thursday, October 16th. Finally, Barclays upped their price objective on Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $113.44.

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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