Clearstead Trust LLC Raises Stake in Crown Castle Inc. $CCI

Clearstead Trust LLC raised its holdings in Crown Castle Inc. (NYSE:CCI) by 523.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,054 shares of the real estate investment trust’s stock after purchasing an additional 885 shares during the quarter. Clearstead Trust LLC’s holdings in Crown Castle were worth $108,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. Wellington Management Group LLP grew its stake in shares of Crown Castle by 2.6% in the 1st quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock valued at $2,229,260,000 after purchasing an additional 538,049 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Crown Castle by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock valued at $624,584,000 after purchasing an additional 72,511 shares during the period. Deutsche Bank AG increased its holdings in shares of Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after purchasing an additional 2,072,198 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Crown Castle by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock worth $543,264,000 after purchasing an additional 90,371 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 1.1%

Shares of CCI opened at $91.64 on Friday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76. The company has a 50-day simple moving average of $94.55 and a 200-day simple moving average of $99.73. The company has a market capitalization of $39.91 billion, a PE ratio of -8.62, a P/E/G ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $1.84 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $1.0625 dividend. The ex-dividend date is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.6%. Crown Castle’s dividend payout ratio is currently -39.98%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, July 25th. Barclays raised their target price on shares of Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Scotiabank boosted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Weiss Ratings reissued a “sell (d+)” rating on shares of Crown Castle in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $113.12.

Insiders Place Their Bets

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was 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 directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This trade represents a 31.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.