Crown Castle Inc. (NYSE:CCI) Shares Sold by Foundations Investment Advisors LLC

Key Points

• Foundations Investment Advisors LLC significantly reduced its holdings in Crown Castle Inc. by 95.4%, leaving it with a stake worth $234,000 after selling 46,672 shares in the first quarter.
• Crown Castle's recent financial results showed a quarterly revenue of $1.06 billion, exceeding analyst estimates, despite a 4.2% year-over-year revenue decline.
• The company's dividend payout ratio is currently at -39.83%, following a quarterly dividend declaration of $1.0625 per share, reflecting ongoing financial pressures.

Foundations Investment Advisors LLC decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 95.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,246 shares of the real estate investment trust's stock after selling 46,672 shares during the quarter. Foundations Investment Advisors LLC's holdings in Crown Castle were worth $234,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Mackenzie Financial Corp grew its position in shares of Crown Castle by 6.9% during the first quarter. Mackenzie Financial Corp now owns 40,359 shares of the real estate investment trust's stock worth $4,207,000 after purchasing an additional 2,591 shares in the last quarter. Inlet Private Wealth LLC grew its position in shares of Crown Castle by 1.7% during the first quarter. Inlet Private Wealth LLC now owns 51,403 shares of the real estate investment trust's stock worth $5,358,000 after purchasing an additional 870 shares in the last quarter. Prosperity Consulting Group LLC purchased a new stake in shares of Crown Castle during the first quarter worth about $210,000. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Crown Castle during the first quarter worth about $247,000. Finally, Texas Yale Capital Corp. grew its position in shares of Crown Castle by 10.1% during the first quarter. Texas Yale Capital Corp. now owns 14,781 shares of the real estate investment trust's stock worth $1,541,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 2.0%

Shares of CCI stock traded down $2.16 during mid-day trading on Tuesday, reaching $105.03. The stock had a trading volume of 2,534,319 shares, compared to its average volume of 3,259,465. The firm has a market cap of $45.74 billion, a price-to-earnings ratio of -9.84, a PEG ratio of 0.81 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The business's fifty day moving average is $102.92 and its 200-day moving average is $99.47.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping 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 return on equity of 619.62% and a negative net margin of 85.54%. Crown Castle's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 earnings per share. On average, analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.0%. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Wall Street Analyst Weigh In

CCI has been the subject of several research analyst reports. Bank of America began coverage on Crown Castle in a research report on Monday, May 19th. They set a "buy" rating and a $115.00 target price for the company. Citigroup lifted their price objective on Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. KeyCorp lifted their price objective on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Barclays lifted their price objective on Crown Castle from $117.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, UBS Group lifted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.18.

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.