Evergreen Capital Management LLC Reduces Holdings in Crown Castle Inc. $CCI

Key Points

• Evergreen Capital Management LLC reduced its holdings in Crown Castle Inc. by 62.8% during the first quarter, owning 3,501 shares valued at $365,000 after selling 5,917 shares.
• Crown Castle announced a quarterly dividend of $1.0625 per share, indicating an annualized dividend of $4.25 with a yield of 4.3%, scheduled for payment on September 30th.
• The company reported a negative net margin of 85.54% for the quarter, despite exceeding earnings estimates with an EPS of $1.02, while revenue totaled $1.06 billion.

Evergreen Capital Management LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 62.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,501 shares of the real estate investment trust's stock after selling 5,917 shares during the period. Evergreen Capital Management LLC's holdings in Crown Castle were worth $365,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC increased its stake in Crown Castle by 17.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 9,090 shares of the real estate investment trust's stock worth $825,000 after acquiring an additional 1,360 shares during the last quarter. AXA S.A. increased its position in shares of Crown Castle by 89.7% during the fourth quarter. AXA S.A. now owns 62,202 shares of the real estate investment trust's stock valued at $5,645,000 after acquiring an additional 29,420 shares during the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Crown Castle by 10.7% in the 4th quarter. Aptus Capital Advisors LLC now owns 4,384 shares of the real estate investment trust's stock valued at $398,000 after acquiring an additional 424 shares during the period. Bearing Point Capital LLC acquired a new position in shares of Crown Castle in the 4th quarter worth approximately $472,000. Finally, Baird Financial Group Inc. boosted its position in shares of Crown Castle by 2.3% during the 4th quarter. Baird Financial Group Inc. now owns 34,476 shares of the real estate investment trust's stock worth $3,129,000 after purchasing an additional 764 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on CCI shares. BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Raymond James Financial reiterated a "strong-buy" rating and issued a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. 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. Royal Bank Of Canada lifted their target price on Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Finally, UBS Group increased their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Trading Up 0.5%

NYSE:CCI traded up $0.46 during mid-day trading on Friday, hitting $95.92. The stock had a trading volume of 5,239,376 shares, compared to its average volume of 3,250,311. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock has a 50-day simple moving average of $103.52 and a two-hundred day simple moving average of $101.43. The company has a market capitalization of $41.77 billion, a PE ratio of -8.99, a PEG ratio of 0.73 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.0625 dividend. The ex-dividend date is 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%.

About Crown Castle

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.