Chicago Partners Investment Group LLC Cuts Stock Holdings in Crown Castle Inc. $CCI

Chicago Partners Investment Group LLC reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 13.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 23,460 shares of the real estate investment trust’s stock after selling 3,679 shares during the period. Chicago Partners Investment Group LLC’s holdings in Crown Castle were worth $2,574,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCI. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Nuveen LLC purchased a new position in Crown Castle during the first quarter worth about $305,876,000. Deutsche Bank AG raised its holdings in 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 in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in Crown Castle during the first quarter worth about $149,661,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CCI shares. Scotiabank upped their target price 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. Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research report on Monday, September 22nd. 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. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus target price of $114.06.

Crown Castle Price Performance

CCI stock opened at $97.57 on Monday. The company’s 50 day simple moving average is $97.40 and its 200-day simple moving average is $100.59. The firm has a market capitalization of $42.49 billion, a PE ratio of -9.14, a P/E/G ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76.

Crown Castle (NYSE:CCI) last released its quarterly earnings results 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. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle’s dividend payout ratio is currently -39.83%.

Crown Castle Company 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.