Stock Yards Bank & Trust Co. Sells 1,704 Shares of Crown Castle Inc. $CCI

Stock Yards Bank & Trust Co. lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 9.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,447 shares of the real estate investment trust’s stock after selling 1,704 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Crown Castle were worth $1,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC bought a new position in Crown Castle during the second quarter worth about $62,000. Abundance Wealth Counselors boosted its position in shares of Crown Castle by 4.5% in the second quarter. Abundance Wealth Counselors now owns 12,154 shares of the real estate investment trust’s stock valued at $1,249,000 after acquiring an additional 518 shares during the period. Cromwell Holdings LLC boosted its position in shares of Crown Castle by 4,279.2% in the second quarter. Cromwell Holdings LLC now owns 1,051 shares of the real estate investment trust’s stock valued at $108,000 after acquiring an additional 1,027 shares during the period. Hilltop National Bank bought a new position in shares of Crown Castle in the second quarter valued at approximately $62,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Crown Castle by 4.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,411 shares of the real estate investment trust’s stock valued at $6,309,000 after acquiring an additional 2,778 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CCI. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Raymond James Financial restated a “strong-buy” rating and issued a $124.00 price objective (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the company an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.76.

Crown Castle Price Performance

Shares of CCI opened at $95.57 on Friday. The firm’s 50 day simple moving average is $99.36 and its 200 day simple moving average is $101.12. The company has a market capitalization of $41.62 billion, a P/E ratio of -8.96, a P/E/G ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.89.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. Crown Castle’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities 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. Shareholders of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle’s dividend payout ratio (DPR) is -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.