Cooke & Bieler LP Reduces Stock Position in Crown Castle Inc. $CCI

Cooke & Bieler LP lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 19.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,280,973 shares of the real estate investment trust’s stock after selling 538,863 shares during the period. Crown Castle accounts for 2.3% of Cooke & Bieler LP’s holdings, making the stock its 7th biggest position. Cooke & Bieler LP’s holdings in Crown Castle were worth $234,324,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle in the first quarter valued at about $26,000. Centerpoint Advisors LLC bought a new position in Crown Castle in the 1st quarter valued at about $26,000. Stone House Investment Management LLC bought a new position in Crown Castle in the 1st quarter valued at about $27,000. Rise Advisors LLC bought a new position in Crown Castle in the 1st quarter valued at about $28,000. Finally, Creative Financial Designs Inc. ADV raised its holdings in Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 98 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $90.35 on Friday. The company has a market capitalization of $39.35 billion, a P/E ratio of -8.50, a P/E/G ratio of 0.68 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The business’s 50 day simple moving average is $96.12 and its 200 day simple moving average is $100.50.

Crown Castle (NYSE:CCI) last released its earnings results 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. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed 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. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CCI shares. KeyCorp lowered their target price 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. BMO Capital Markets lowered their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Crown Castle in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $113.12.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the sale, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.10% of the stock is 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.