Kestra Advisory Services LLC Sells 5,946 Shares of Crown Castle Inc. $CCI

Key Points

• Kestra Advisory Services LLC has reduced its holdings in Crown Castle Inc. by 20.9%, bringing their total to 22,497 shares valued at approximately $2.35 million.
• Crown Castle's stock is currently valued at $97.76, experiencing a 2.4% decline, with a twelve-month low of $84.20 and a high of $120.92.
• The company recently announced a quarterly dividend of $1.0625 per share, translating to an annualized yield of 4.3%, with a payout ratio of -39.83%.

Kestra Advisory Services LLC cut its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 20.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,497 shares of the real estate investment trust's stock after selling 5,946 shares during the quarter. Kestra Advisory Services LLC's holdings in Crown Castle were worth $2,345,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in CCI. Opal Wealth Advisors LLC acquired a new position in Crown Castle in the first quarter valued at $26,000. Iron Horse Wealth Management LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $27,000. Finally, American National Bank & Trust acquired a new position in shares of Crown Castle during the 1st quarter valued at $29,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

NYSE:CCI traded down $1.34 during mid-day trading on Tuesday, hitting $97.80. The stock had a trading volume of 2,103,561 shares, compared to its average volume of 3,225,869. The company's 50 day simple moving average is $103.91 and its 200 day simple moving average is $101.23. The stock has a market cap of $42.59 billion, a price-to-earnings ratio of -9.17, a PEG ratio of 0.75 and a beta of 0.92. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the firm earned $1.62 earnings per share. The business's revenue for the quarter was down 4.2% on a year-over-year basis. 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 earnings per share for the current year.

Crown Castle Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on CCI. JPMorgan Chase & Co. raised their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Citigroup raised their target price on Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Scotiabank lifted their price objective on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. UBS Group lifted their price objective on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, 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. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

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.