Abel Hall LLC Sells 145 Shares of Crown Castle Inc. $CCI

Abel Hall LLC reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,248 shares of the real estate investment trust’s stock after selling 145 shares during the quarter. Abel Hall LLC’s holdings in Crown Castle were worth $642,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCI. CHICAGO TRUST Co NA boosted its position in Crown Castle by 3.0% during the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust’s stock worth $368,000 after purchasing an additional 104 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Crown Castle by 10.1% during the 1st quarter. Farther Finance Advisors LLC now owns 3,886 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 357 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in shares of Crown Castle by 3.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 4,439 shares of the real estate investment trust’s stock worth $463,000 after buying an additional 163 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Crown Castle by 18.9% during the first quarter. GAMMA Investing LLC now owns 5,769 shares of the real estate investment trust’s stock worth $601,000 after acquiring an additional 916 shares during the period. Finally, Accurate Wealth Management LLC boosted its holdings in shares of Crown Castle by 16.3% during the first quarter. Accurate Wealth Management LLC now owns 2,826 shares of the real estate investment trust’s stock worth $273,000 after acquiring an additional 397 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

NYSE:CCI opened at $95.08 on Wednesday. The stock has a fifty day moving average price of $98.78 and a 200-day moving average price of $100.96. The company has a market cap of $41.40 billion, a price-to-earnings ratio of -8.91, a PEG ratio of 0.71 and a beta of 0.95. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.89.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the business posted $1.62 earnings per share. Crown Castle’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. Research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s dividend payout ratio is -39.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. UBS Group boosted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research report on Monday, September 22nd. Finally, Scotiabank boosted their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.