Hartford Investment Management Co. Has $2.69 Million Stake in Crown Castle Inc. $CCI

Hartford Investment Management Co. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,200 shares of the real estate investment trust’s stock after selling 259 shares during the quarter. Hartford Investment Management Co.’s holdings in Crown Castle were worth $2,692,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CCI. Wealth Enhancement Advisory Services LLC raised its stake in Crown Castle by 7.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 240,038 shares of the real estate investment trust’s stock worth $21,786,000 after acquiring an additional 16,041 shares in the last quarter. 111 Capital acquired a new position in shares of Crown Castle in the fourth quarter valued at approximately $455,000. Central Pacific Bank Trust Division increased its stake in shares of Crown Castle by 182.6% in the first quarter. Central Pacific Bank Trust Division now owns 13,435 shares of the real estate investment trust’s stock valued at $1,400,000 after buying an additional 8,681 shares during the period. Versant Capital Management Inc increased its stake in shares of Crown Castle by 95.2% in the first quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 199 shares during the period. Finally, Quent Capital LLC increased its stake in shares of Crown Castle by 15.6% in the first quarter. Quent Capital LLC now owns 1,657 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CCI shares. Royal Bank Of Canada upped their price objective on Crown Castle from $112.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, August 7th. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research note on Monday. Barclays upped their price objective on Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. BMO Capital Markets raised Crown Castle from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Finally, JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average price target of $115.82.

Crown Castle Price Performance

Shares of CCI stock opened at $95.30 on Friday. The business’s 50 day simple moving average is $100.82 and its 200 day simple moving average is $101.29. Crown Castle Inc. has a one year low of $84.20 and a one year high of $119.56. The stock has a market capitalization of $41.50 billion, a PE ratio of -8.93, a PEG ratio of 0.71 and a beta of 0.92.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts expect 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 will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.83%.

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.