Gateway Investment Advisers LLC Sells 11,564 Shares of Crown Castle Inc. $CCI

Key Points

• Gateway Investment Advisers LLC has reduced its stake in Crown Castle Inc. by 4.0%, owning 277,703 shares worth approximately $28.53 million at the end of the recent quarter.
• Crown Castle's stock has received multiple upgrades from analysts, with price targets raised to as high as $125.00 by firms such as Wells Fargo and KeyCorp.
• The company recently announced a quarterly dividend of $1.0625 per share, equivalent to an annualized dividend of $4.25, representing a yield of 4.5%.

Gateway Investment Advisers LLC trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 4.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,703 shares of the real estate investment trust's stock after selling 11,564 shares during the quarter. Gateway Investment Advisers LLC owned approximately 0.06% of Crown Castle worth $28,528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CCI. OMERS ADMINISTRATION Corp bought a new position in Crown Castle during the 4th quarter worth $280,000. Man Group plc grew its stake in Crown Castle by 423.1% during the 4th quarter. Man Group plc now owns 53,271 shares of the real estate investment trust's stock worth $4,835,000 after buying an additional 43,087 shares during the last quarter. Quantinno Capital Management LP boosted its position in Crown Castle by 131.7% during the 4th quarter. Quantinno Capital Management LP now owns 27,505 shares of the real estate investment trust's stock worth $2,496,000 after acquiring an additional 15,633 shares during the period. Tidal Investments LLC boosted its position in Crown Castle by 33.3% during the 4th quarter. Tidal Investments LLC now owns 15,603 shares of the real estate investment trust's stock worth $1,416,000 after acquiring an additional 3,894 shares during the period. Finally, Two Sigma Investments LP boosted its position in Crown Castle by 327.1% during the 4th quarter. Two Sigma Investments LP now owns 96,529 shares of the real estate investment trust's stock worth $8,761,000 after acquiring an additional 73,929 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

NYSE:CCI traded up $0.64 during trading hours on Friday, hitting $93.60. 5,261,530 shares of the company's stock traded hands, compared to its average volume of 3,761,189. The firm has a market cap of $40.76 billion, a P/E ratio of -8.77, a P/E/G ratio of 0.71 and a beta of 0.92. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $119.56. The stock's fifty day moving average price is $101.75 and its two-hundred day moving average price is $101.38.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's dividend payout ratio is presently -39.83%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CCI shares. Raymond James Financial reiterated a "strong-buy" rating and set a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Barclays boosted their price target on Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Royal Bank Of Canada boosted their price target on Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. JMP Securities reiterated a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Scotiabank upped their price objective on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Three investment 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 stock. According to MarketBeat.com, Crown Castle presently has an average rating of "Moderate Buy" and a consensus price target of $116.18.

Crown Castle 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.