Legacy Wealth Asset Management LLC Has $420,000 Stake in Crown Castle Inc. $CCI

Legacy Wealth Asset Management LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 60.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,348 shares of the real estate investment trust’s stock after selling 6,530 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Crown Castle were worth $420,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Winnow Wealth LLC acquired a new position in Crown Castle in the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Crown Castle during the 2nd quarter worth $27,000. Rise Advisors LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth $28,000. NewSquare Capital LLC increased its position in shares of Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares during the period. Finally, Creative Financial Designs Inc. ADV raised its stake in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the sale, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.

Crown Castle Trading Up 0.3%

Shares of Crown Castle stock opened at $86.38 on Tuesday. The firm’s 50 day moving average is $91.70 and its 200 day moving average is $97.40. The firm has a market capitalization of $37.61 billion, a PE ratio of -8.13, a price-to-earnings-growth ratio of 0.63 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.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share 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 of this dividend is Monday, December 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CCI shares. UBS Group reaffirmed a “buy” rating and set a $127.00 price objective on shares of Crown Castle in a research report on Wednesday, December 10th. Citigroup dropped their target price on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Royal Bank Of Canada set a $112.00 price target on shares of Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Barclays reissued an “equal weight” rating and issued a $101.00 price objective (down from $104.00) on shares of Crown Castle in a research note on Monday, December 1st. Finally, Wells Fargo & Company lowered their price objective on shares of Crown Castle from $115.00 to $105.00 and set an “overweight” rating for the company in a research report on Tuesday, December 16th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and an average price target of $111.35.

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.