Adell Harriman & Carpenter Inc. Sells 257 Shares of Crown Castle Inc. $CCI

Adell Harriman & Carpenter Inc. lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 6.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,795 shares of the real estate investment trust’s stock after selling 257 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Crown Castle were worth $390,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CCI. Allspring Global Investments Holdings LLC grew its position in shares of Crown Castle by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock worth $3,665,000 after purchasing an additional 4,276 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Crown Castle by 1.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 50,408 shares of the real estate investment trust’s stock worth $5,254,000 after purchasing an additional 807 shares in the last quarter. Rossby Financial LCC acquired a new position in shares of Crown Castle during the 1st quarter worth approximately $127,000. Private Trust Co. NA grew its position in shares of Crown Castle by 10.7% during the 1st quarter. Private Trust Co. NA now owns 3,487 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 337 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Crown Castle by 226.6% during the 1st quarter. Teacher Retirement System of Texas now owns 83,703 shares of the real estate investment trust’s stock worth $8,724,000 after acquiring an additional 58,071 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CCI. Scotiabank upped their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. The Goldman Sachs Group upped their price target on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Wells Fargo & Company cut their price target on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 20th. KeyCorp reduced their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Finally, Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research note on Monday, September 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given 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 price target of $113.12.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $91.30 on Friday. The company has a market cap of $39.76 billion, a price-to-earnings ratio of -8.59, a PEG ratio of 0.68 and a beta of 0.95. The firm has a 50 day simple moving average of $96.39 and a 200 day simple moving average of $100.57. Crown Castle Inc. has a one year low of $84.20 and a one 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. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.7%. Crown Castle’s dividend payout ratio is presently -39.98%.

Insider Buying and Selling

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by insiders.

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.