Ritholtz Wealth Management Sells 3,448 Shares of Crown Castle Inc. $CCI

Key Points

• Ritholtz Wealth Management reduced its stake in Crown Castle Inc. by 17.8%, selling 3,448 shares to hold a total of 15,883 shares valued at approximately $1.63 million.
• Key equity analysts have set a range of target prices for Crown Castle, with recent reductions from $125.00 to $120.00 by KeyCorp and upgrades from Wolfe Research to $114.00, reflecting varied outlooks on the stock.
• Crown Castle announced a quarterly dividend of $1.0625 per share, translating to an annualized dividend yield of 4.4%, despite reporting a negative return on equity of 619.62% for the quarter.

Ritholtz Wealth Management decreased its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 17.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,883 shares of the real estate investment trust's stock after selling 3,448 shares during the period. Ritholtz Wealth Management's holdings in Crown Castle were worth $1,632,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth $26,000. Centerpoint Advisors LLC purchased a new position in shares of Crown Castle during the 1st quarter valued at $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle during the 1st quarter worth about $27,000. Rise Advisors LLC purchased a new stake in Crown Castle during the 1st quarter worth about $28,000. Finally, WPG Advisers LLC bought a new position in Crown Castle in the 1st quarter worth about $33,000. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CCI shares. KeyCorp reduced their price objective on Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. JMP Securities reiterated a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research report on Thursday, July 24th. Wolfe Research upgraded Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a research report on Monday, September 22nd. Citigroup lowered their target price on Crown Castle from $124.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and a consensus target price of $114.06.

Crown Castle Trading Down 0.5%

NYSE:CCI opened at $97.57 on Friday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The business's 50-day moving average is $97.40 and its 200 day moving average is $100.66. The company has a market capitalization of $42.49 billion, a P/E ratio of -9.14, a P/E/G ratio of 0.74 and a beta of 0.95.

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

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. Crown Castle's dividend payout ratio (DPR) is -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.

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.