EFG Asset Management Americas Corp. Has $7.40 Million Holdings in Crown Castle Inc. $CCI

EFG Asset Management Americas Corp. lifted its position in Crown Castle Inc. (NYSE:CCI) by 134.2% in the second quarter, HoldingsChannel.com reports. The firm owned 71,995 shares of the real estate investment trust’s stock after acquiring an additional 41,255 shares during the period. Crown Castle comprises 1.4% of EFG Asset Management Americas Corp.’s investment portfolio, making the stock its 18th largest holding. EFG Asset Management Americas Corp.’s holdings in Crown Castle were worth $7,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake 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 valued at $7,175,256,000 after buying an additional 6,341,150 shares in the last quarter. Nuveen LLC acquired a new position in Crown Castle in the first quarter worth about $305,876,000. Deutsche Bank AG lifted its stake 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 during the period. Price T Rowe Associates Inc. MD boosted 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 valued at $357,834,000 after purchasing an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Crown Castle in the 1st quarter worth approximately $149,661,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CCI shares. Wells Fargo & Company dropped their price objective on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Monday, October 20th. Citigroup reduced their price target on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. BMO Capital Markets reduced their price objective on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Crown Castle in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $112.18.

Insider Buying and Selling

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $98.08, for a total value of $2,942,400.00. Following the sale, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Crown Castle Trading Up 0.0%

Shares of NYSE:CCI opened at $91.05 on Thursday. The stock has a market capitalization of $39.65 billion, a P/E ratio of -8.57, a P/E/G ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The business has a 50-day moving average price of $94.36 and a two-hundred day moving average price of $99.38.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s payout ratio is currently -39.98%.

About Crown Castle

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.