Truvestments Capital LLC Trims Stake in Crown Castle Inc. $CCI

Key Points

• Truvestments Capital LLC reduced its stake in Crown Castle Inc. by 60.9%, now holding 9,960 shares worth approximately $1,038,000.
• Crown Castle's latest earnings report showed $1.02 EPS, exceeding expectations, but revenue decreased by 4.2% compared to last year.
• The company announced a $1.0625 quarterly dividend, with a yield of 4.2%, and a payout ratio of -39.83%.

Truvestments Capital LLC lessened its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 60.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,960 shares of the real estate investment trust's stock after selling 15,504 shares during the period. Truvestments Capital LLC's holdings in Crown Castle were worth $1,038,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. CHICAGO TRUST Co NA grew its holdings in 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 worth $368,000 after acquiring an additional 104 shares in the last quarter. Harbour Investments Inc. grew its holdings in Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 107 shares in the last quarter. Abel Hall LLC grew its holdings in Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after acquiring an additional 115 shares in the last quarter. Beacon Capital Management LLC grew its holdings in Crown Castle by 36.6% during the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its holdings in Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after acquiring an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 1.4%

NYSE:CCI opened at $101.49 on Wednesday. The company has a market cap of $44.19 billion, a PE ratio of -9.51, a P/E/G ratio of 0.78 and a beta of 0.89. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company's 50 day moving average is $104.00 and its two-hundred day moving average is $100.90.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion for 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%. Crown Castle's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

Analysts Set New Price Targets

Several brokerages have issued reports on CCI. JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Scotiabank lifted their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. KeyCorp lifted their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada lifted their price objective on shares of Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $116.41.

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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