Generali Asset Management SPA SGR Decreases Stock Position in Crown Castle Inc. $CCI

Key Points

• Generali Asset Management SPA SGR has reduced its stake in Crown Castle Inc. by 31.5%, selling 11,594 shares and now holding 25,239 shares worth approximately $2.59 million.
• Crown Castle reported its earnings, posting an EPS of $1.02 for the quarter, surpassing analysts' expectations, despite a 4.2% decline in revenue year-over-year.
• The company recently declared a quarterly dividend of $1.0625, resulting in an annualized yield of 4.3%.

Generali Asset Management SPA SGR lowered its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 31.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,239 shares of the real estate investment trust's stock after selling 11,594 shares during the quarter. Generali Asset Management SPA SGR's holdings in Crown Castle were worth $2,593,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of CCI. GAMMA Investing LLC lifted its stake in Crown Castle by 18.9% in the 1st quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust's stock worth $601,000 after purchasing an additional 916 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Crown Castle by 7.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 258,299 shares of the real estate investment trust's stock valued at $26,922,000 after buying an additional 18,261 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Crown Castle during the 1st quarter valued at about $213,000. QRG Capital Management Inc. raised its position in shares of Crown Castle by 7.2% during the 1st quarter. QRG Capital Management Inc. now owns 43,780 shares of the real estate investment trust's stock valued at $4,563,000 after buying an additional 2,943 shares in the last quarter. Finally, Clarius Group LLC purchased a new stake in shares of Crown Castle during the 1st quarter valued at about $294,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 0.0%

Shares of NYSE:CCI opened at $98.05 on Friday. The company has a market capitalization of $42.70 billion, a price-to-earnings ratio of -9.19, a PEG ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The firm's 50-day moving average is $97.54 and its 200 day moving average is $100.71.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The business 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 revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle's dividend payout ratio is currently -39.83%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CCI shares. Scotiabank upped their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Citigroup decreased their target price on shares of Crown Castle from $124.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday. Wolfe Research upgraded shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research report on Monday, September 22nd. Weiss Ratings restated a "sell (d)" rating on shares of Crown Castle in a research report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $114.44.

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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