Harvest Portfolios Group Inc. Trims Stock Position in Crown Castle Inc. $CCI

Harvest Portfolios Group Inc. reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 15.6% during the first quarter, Holdings Channel reports. The firm owned 9,158 shares of the real estate investment trust’s stock after selling 1,692 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Crown Castle were worth $955,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after buying an additional 6,341,150 shares during the period. Nuveen LLC purchased a new stake in shares of Crown Castle in the 1st quarter worth about $305,876,000. Deutsche Bank AG grew its position in shares of Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after buying an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Crown Castle by 144.5% in the 1st 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 buying an additional 2,028,718 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Crown Castle by 107.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,730,309 shares of the real estate investment trust’s stock worth $284,580,000 after buying an additional 1,412,992 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $101.49 on Wednesday. The stock has a market cap of $44.19 billion, a price-to-earnings ratio of -9.51, a PEG ratio of 0.78 and a beta of 0.89. The firm’s 50-day moving average is $104.00 and its 200 day moving average is $100.90. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities 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 paid a dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.2%. Crown Castle’s dividend payout ratio is currently -39.83%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. UBS Group upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. New Street Research raised shares of Crown Castle from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 1st. Finally, Barclays reduced their target price on shares of Crown Castle from $121.00 to $119.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.