S Bank Fund Management Ltd trimmed its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 32.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,950 shares of the real estate investment trust's stock after selling 12,116 shares during the quarter. S Bank Fund Management Ltd's holdings in Crown Castle were worth $2,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $26,000. Centerpoint Advisors LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $27,000. Rise Advisors LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $28,000. Finally, WPG Advisers LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $33,000. 90.77% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on CCI. Barclays boosted their price objective on Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Crown Castle in a research report on Wednesday, October 8th. Citigroup reaffirmed a "buy" rating on shares of Crown Castle in a research report on Thursday. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, KeyCorp decreased their price objective on Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $115.76.
Check Out Our Latest Stock Report on Crown Castle
Crown Castle Trading Up 0.9%
Crown Castle stock opened at $98.13 on Thursday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.89. The business's 50 day simple moving average is $97.70 and its 200 day simple moving average is $100.75. The company has a market cap of $42.73 billion, a price-to-earnings ratio of -9.20, a PEG ratio of 0.74 and a beta of 0.95.
Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. Crown Castle'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 research analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.
Crown Castle Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors 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 annualized dividend and a yield of 4.3%. Crown Castle's dividend payout ratio is presently -39.83%.
About Crown Castle
(
Free Report)
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.
See Also
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).
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