Te Ahumairangi Investment Management Ltd Takes Position in Crown Castle Inc. $CCI

Te Ahumairangi Investment Management Ltd acquired a new position in Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, Holdings Channel reports. The firm acquired 23,100 shares of the real estate investment trust’s stock, valued at approximately $2,373,000.

A number of other hedge funds have also modified their holdings of CCI. Choreo LLC boosted its stake in Crown Castle by 75.4% during the second quarter. Choreo LLC now owns 10,901 shares of the real estate investment trust’s stock worth $1,120,000 after buying an additional 4,687 shares during the period. J.W. Cole Advisors Inc. purchased a new position in shares of Crown Castle during the 2nd quarter worth approximately $345,000. North Star Asset Management Inc. increased its holdings in Crown Castle by 31.3% in the 2nd quarter. North Star Asset Management Inc. now owns 2,640 shares of the real estate investment trust’s stock valued at $271,000 after purchasing an additional 630 shares during the last quarter. FourThought Financial Partners LLC raised its position in Crown Castle by 63.6% in the second quarter. FourThought Financial Partners LLC now owns 50,879 shares of the real estate investment trust’s stock valued at $5,227,000 after purchasing an additional 19,776 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its position in Crown Castle by 15.2% in the second quarter. Elo Mutual Pension Insurance Co now owns 45,939 shares of the real estate investment trust’s stock valued at $4,719,000 after purchasing an additional 6,052 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of CCI opened at $90.62 on Thursday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The stock has a market cap of $39.46 billion, a PE ratio of -8.52, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The firm has a fifty day moving average price of $93.89 and a 200 day moving average price of $98.84.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company posted $1.84 earnings per share. The business’s quarterly 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, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $1.0625 dividend. 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%.

Insiders Place Their Bets

In other news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle 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 transaction, the executive vice president directly owned 65,571 shares of the company’s stock, 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 through this link. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, October 23rd. KeyCorp dropped their target price on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a report on Tuesday. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research report on Monday, September 22nd. Finally, The Goldman Sachs Group increased their price objective on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $112.18.

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.