TD Waterhouse Canada Inc. Decreases Stock Position in Crown Castle Inc. $CCI

Key Points

• TD Waterhouse Canada cut its Crown Castle stake by 89.2% in the second quarter, leaving it with 5,407 shares valued at approximately $414,000. Institutional investors overall still own 90.77% of CCI.
• Crown Castle shares opened at $73.67, near their 52-week low, after the company reported quarterly EPS of $0.22—below the $0.39 analyst consensus—while revenue reached $1.01 billion but declined 4.9% year over year.
• The company declared a quarterly dividend of $1.0625 per share, or $4.25 annualized, representing a 5.8% yield. Analysts have a “Moderate Buy” consensus rating and an average price target of $95.13.

TD Waterhouse Canada Inc. cut its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 89.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,407 shares of the real estate investment trust's stock after selling 44,818 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Crown Castle were worth $414,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cooke & Bieler LP lifted its stake in Crown Castle by 21.2% in the fourth quarter. Cooke & Bieler LP now owns 2,930,797 shares of the real estate investment trust's stock worth $260,460,000 after purchasing an additional 511,763 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Crown Castle by 7.2% during the fourth quarter. Legal & General Group Plc now owns 6,025,433 shares of the real estate investment trust's stock valued at $535,480,000 after buying an additional 403,943 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Crown Castle by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 5,506,580 shares of the real estate investment trust's stock worth $489,370,000 after buying an additional 54,078 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Crown Castle in the second quarter worth approximately $168,855,000. Finally, Royal Bank of Canada lifted its stake in shares of Crown Castle by 28.6% during the 1st quarter. Royal Bank of Canada now owns 4,222,008 shares of the real estate investment trust's stock worth $343,291,000 after acquiring an additional 938,653 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Down 2.0%

Shares of NYSE:CCI opened at $73.67 on Friday. The business's 50 day moving average is $76.15 and its 200 day moving average is $83.07. The stock has a market cap of $31.34 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95. Crown Castle Inc. has a 52-week low of $69.72 and a 52-week high of $100.50.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.17). The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.05 million. Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The company's revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, sell-side analysts anticipate that Crown Castle Inc. will post 4.39 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.8%. Crown Castle's dividend payout ratio (DPR) is currently 215.74%.

Wall Street Analyst Weigh In

CCI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Crown Castle from $95.00 to $85.00 and set a "neutral" rating for the company in a report on Thursday, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Crown Castle in a research note on Friday, July 24th. Weiss Ratings reissued a "hold (c-)" rating on shares of Crown Castle in a research note on Wednesday, August 19th. Truist Financial lowered their target price on shares of Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a research note on Tuesday, July 28th. Finally, BMO Capital Markets reduced their price target on shares of Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $95.13.

Insider Activity

In other news, VP Robert Collins sold 1,500 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares in the company, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.09% of the company's stock.

About Crown Castle

Crown Castle Inc NYSE: CCI is a communications infrastructure company that owns, operates and leases shared wireless infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company's primary infrastructure includes cell towers and other tower sites that host antennas and related equipment. Crown Castle has also developed and operated fiber networks and small-cell systems, which help wireless providers expand network capacity and coverage in densely populated areas and along high-traffic corridors.

Founded in 1994 and headquartered in Houston, Texas, Crown Castle has historically served customers across major U.S.

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