Gilman Hill Asset Management LLC Reduces Stock Position in Crown Castle Inc. $CCI

Key Points

• Gilman Hill Asset Management LLC has sold 34,631 shares of Crown Castle Inc., reducing its stake by 40.3%, leaving it with 51,290 shares valued at approximately $5.27 million.
• Multiple institutional investors have recently increased their stakes in Crown Castle, with 90.77% of the company's stock now owned by institutional investors.
• Wells Fargo upgraded Crown Castle's rating from "equal weight" to "overweight" and raised its target price to $125.00, contributing to a generally positive outlook among analysts with a consensus rating of "Moderate Buy".

Gilman Hill Asset Management LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 40.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 51,290 shares of the real estate investment trust's stock after selling 34,631 shares during the period. Gilman Hill Asset Management LLC's holdings in Crown Castle were worth $5,269,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its holdings in Crown Castle by 9.0% in the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock valued at $278,000 after buying an additional 219 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of 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 shares of Crown Castle during the first quarter worth about $262,000. Everhart Financial Group Inc. acquired a new position in shares of Crown Castle during the first quarter worth about $307,000. Finally, Inspire Trust Co. N.A. boosted its holdings in Crown Castle by 25.0% in the first 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 purchasing an additional 4,000 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. KeyCorp lowered their price target on Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday. UBS Group upped their price target on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. 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 research report on Thursday, July 24th. Finally, Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.18.

Crown Castle Stock Up 0.7%

Shares of NYSE CCI traded up $0.64 during midday trading on Friday, hitting $93.60. The stock had a trading volume of 5,261,530 shares, compared to its average volume of 3,761,189. The company has a market capitalization of $40.76 billion, a price-to-earnings ratio of -8.77, a PEG ratio of 0.71 and a beta of 0.92. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $119.56. The company has a fifty day moving average price of $101.75 and a 200 day moving average price of $101.42.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data 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 business 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%.The company's revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

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.