Oppenheimer Asset Management Inc. Reduces Stock Position in Crown Castle Inc. $CCI

Oppenheimer Asset Management Inc. decreased its stake in Crown Castle Inc. (NYSE:CCI) by 4.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 137,139 shares of the real estate investment trust’s stock after selling 7,098 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Crown Castle were worth $12,188,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Crown Castle by 591.8% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock worth $431,418,000 after purchasing an additional 3,824,778 shares during the period. Invesco Ltd. raised its holdings in Crown Castle by 33.2% in the 3rd quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock worth $621,172,000 after purchasing an additional 1,605,291 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in Crown Castle in the 3rd quarter worth about $121,726,000. Daiwa Securities Group Inc. raised its holdings in Crown Castle by 42.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,931,258 shares of the real estate investment trust’s stock worth $379,327,000 after purchasing an additional 1,168,132 shares during the period. Finally, Man Group plc raised its holdings in Crown Castle by 237.0% in the 3rd quarter. Man Group plc now owns 1,601,500 shares of the real estate investment trust’s stock worth $154,529,000 after purchasing an additional 1,126,221 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president directly owned 25,183 shares in the company, valued at $2,174,300.22. This trade represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $87.49, for a total value of $262,470.00. Following the transaction, the vice president owned 5,800 shares of the company’s stock, valued at approximately $507,442. This represents a 34.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CCI shares. Jefferies Financial Group increased their target price on Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a report on Tuesday, April 14th. The Goldman Sachs Group reduced their target price on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Wolfe Research reduced their target price on Crown Castle from $114.00 to $94.00 and set an “outperform” rating for the company in a report on Monday, April 6th. Scotiabank reduced their target price on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a report on Tuesday, April 7th. Finally, Zacks Research raised Crown Castle from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $99.34.

Crown Castle Stock Performance

NYSE:CCI opened at $89.38 on Friday. Crown Castle Inc. has a one year low of $75.96 and a one year high of $115.76. The stock has a market cap of $39.00 billion, a PE ratio of 36.93, a P/E/G ratio of 0.45 and a beta of 0.93. The stock has a 50 day moving average price of $85.81 and a 200 day moving average price of $88.27.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.55. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.42 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, analysts predict that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Friday, March 13th. Crown Castle’s dividend payout ratio (DPR) is currently 175.62%.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.