Park Avenue Securities LLC Decreases Holdings in Crown Castle Inc. $CCI

Key Points

• Park Avenue Securities LLC reduced its stake in Crown Castle Inc. by 21.4%, ending the second quarter with 9,742 shares valued at approximately $1 million.
• Several hedge funds have made adjustments to their Crown Castle positions, with 90.77% of the stock currently held by institutional investors.
• Analysts show a positive outlook on Crown Castle, with a consensus rating of "Moderate Buy" and a price target averaging $115.82.

Park Avenue Securities LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 21.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,742 shares of the real estate investment trust's stock after selling 2,649 shares during the quarter. Park Avenue Securities LLC's holdings in Crown Castle were worth $1,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. CHICAGO TRUST Co NA raised its position in shares of Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after buying an additional 104 shares in the last quarter. Harbour Investments Inc. lifted its stake in Crown Castle by 18.9% in the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after purchasing an additional 107 shares during the last quarter. Abel Hall LLC lifted its stake in Crown Castle by 1.8% in the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after purchasing an additional 115 shares during the last quarter. Beacon Capital Management LLC lifted its stake in Crown Castle by 36.6% in the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 120 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Crown Castle by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after purchasing an additional 120 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of several analyst reports. UBS Group raised their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Wolfe Research raised shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research note on Monday. Barclays raised their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Raymond James Financial reissued a "strong-buy" rating and issued a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $115.82.

Crown Castle Stock Performance

Crown Castle stock opened at $95.30 on Friday. The company has a 50 day moving average price of $100.82 and a 200-day moving average price of $101.29. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $119.56. The company has a market capitalization of $41.50 billion, a PE ratio of -8.93, a P/E/G ratio of 0.71 and a beta of 0.92.

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 during 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 was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed 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 yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

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.

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