Crown Castle Inc. $CCI Shares Sold by Farmers & Merchants Trust Co of Chambersburg PA

Farmers & Merchants Trust Co of Chambersburg PA decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 61.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 781 shares of the real estate investment trust’s stock after selling 1,236 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Crown Castle were worth $80,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock valued at $5,707,000 after purchasing an additional 5,144 shares during the period. KMG Fiduciary Partners LLC boosted its holdings in shares of Crown Castle by 2.5% in the second quarter. KMG Fiduciary Partners LLC now owns 21,380 shares of the real estate investment trust’s stock valued at $2,196,000 after acquiring an additional 525 shares in the last quarter. Mirador Capital Partners LP boosted its holdings in Crown Castle by 5.1% during the second quarter. Mirador Capital Partners LP now owns 8,399 shares of the real estate investment trust’s stock worth $863,000 after buying an additional 411 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Crown Castle by 255.1% during the second quarter. Harbor Capital Advisors Inc. now owns 483 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 347 shares in the last quarter. Finally, Fiduciary Alliance LLC boosted its holdings in Crown Castle by 24.6% during the second quarter. Fiduciary Alliance LLC now owns 10,348 shares of the real estate investment trust’s stock worth $1,063,000 after buying an additional 2,045 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI opened at $94.72 on Thursday. The company has a market cap of $41.25 billion, a price-to-earnings ratio of -8.88, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92. The firm has a 50 day simple moving average of $102.15 and a 200 day simple moving average of $101.40. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $119.64.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion during 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 revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CCI shares. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Barclays raised their price target on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, BMO Capital Markets upgraded shares of Crown Castle from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $115.00 to $120.00 in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus price target of $116.18.

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.