Parallel Advisors LLC Sells 67,126 Shares of Crown Castle Inc. $CCI

Key Points

• Parallel Advisors LLC reduced its Crown Castle stake by 43.6% in the fourth quarter, selling 67,126 shares and leaving it with 86,984 shares valued at about $7.73 million.
• Crown Castle reported stronger-than-expected quarterly results, with EPS of $1.02 versus the $0.47 estimate and revenue of $1.01 billion, while also reaffirming FY 2026 EPS guidance of $4.38 to $4.49.
• The company announced a quarterly dividend of $1.0625 per share, payable June 30, implying an annualized dividend of $4.25 and a yield of about 4.5%.

Parallel Advisors LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 43.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 86,984 shares of the real estate investment trust's stock after selling 67,126 shares during the period. Parallel Advisors LLC's holdings in Crown Castle were worth $7,730,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vise Technologies Inc. boosted its stake in shares of Crown Castle by 85.0% during the fourth quarter. Vise Technologies Inc. now owns 6,043 shares of the real estate investment trust's stock valued at $537,000 after purchasing an additional 2,776 shares in the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Crown Castle by 28.4% during the fourth quarter. Magellan Asset Management Ltd now owns 1,790,344 shares of the real estate investment trust's stock valued at $159,108,000 after purchasing an additional 396,096 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Crown Castle by 9.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,312,955 shares of the real estate investment trust's stock valued at $383,293,000 after purchasing an additional 381,697 shares in the last quarter. TD Asset Management Inc boosted its stake in shares of Crown Castle by 1.1% during the fourth quarter. TD Asset Management Inc now owns 169,540 shares of the real estate investment trust's stock valued at $15,067,000 after purchasing an additional 1,813 shares in the last quarter. Finally, Cibc World Market Inc. boosted its stake in shares of Crown Castle by 18.4% during the fourth quarter. Cibc World Market Inc. now owns 294,286 shares of the real estate investment trust's stock valued at $26,153,000 after purchasing an additional 45,641 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 5.8%

Shares of CCI opened at $93.79 on Friday. The company has a market cap of $40.94 billion, a price-to-earnings ratio of 38.76, a price-to-earnings-growth ratio of 0.45 and a beta of 0.93. Crown Castle Inc. has a twelve month low of $75.96 and a twelve month high of $115.76. The company has a 50 day moving average of $87.41 and a two-hundred day moving average of $87.61.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.55. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. Crown Castle's revenue was down 4.9% compared to the same quarter last year. During the same period last year, the firm earned $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid 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, June 15th. Crown Castle's payout ratio is presently 175.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Raymond James Financial increased their price objective on shares of Crown Castle from $102.00 to $108.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 23rd. Wolfe Research downgraded shares of Crown Castle from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 20th. BMO Capital Markets raised their target price on shares of Crown Castle from $91.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Weiss Ratings restated a "hold (c-)" rating on shares of Crown Castle in a research note on Friday, May 22nd. Finally, Zacks Research upgraded shares of Crown Castle from a "strong sell" rating to a "hold" rating in a research note on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $98.52.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company's assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.

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