Truist Financial Corp Has $15.80 Million Holdings in Crown Castle Inc. $CCI

Key Points

• Truist Financial Corp reduced its holdings in Crown Castle Inc. by 6.5%, now owning 153,763 shares valued at approximately $15.80 million.
• Crown Castle recently reported earnings of $1.02 per share, exceeding expectations, but with a revenue decline of 4.2% year-over-year, totaling $1.06 billion.
• The company declared a quarterly dividend of $1.0625, reflecting a 4.4% yield, while institutional investors hold 90.77% of the stock.

Truist Financial Corp lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 153,763 shares of the real estate investment trust's stock after selling 10,733 shares during the period. Truist Financial Corp's holdings in Crown Castle were worth $15,796,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of CCI. Vanguard Group Inc. lifted its holdings in shares of Crown Castle by 10.1% during the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Nuveen LLC acquired a new position in shares of Crown Castle during the first quarter worth $305,876,000. Deutsche Bank AG lifted its holdings in shares of Crown Castle by 60.9% during the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock worth $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Crown Castle during the first quarter worth $149,661,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Trading Up 0.1%

CCI opened at $95.57 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.89. The company has a market cap of $41.62 billion, a P/E ratio of -8.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. The company has a fifty day moving average price of $99.36 and a two-hundred day moving average price of $101.12.

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. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The business's revenue was down 4.2% compared to the same quarter last year. 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 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business 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. This represents a $4.25 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle's payout ratio is -39.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wolfe Research upgraded shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price target on the stock in a report on Monday, September 22nd. Raymond James Financial restated a "strong-buy" rating and issued a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the company an "outperform" rating in a report on Wednesday. KeyCorp dropped their target price on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Wednesday, September 17th. Finally, Barclays boosted their target price on shares of Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and an average price target of $115.76.

Crown Castle 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.

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