Creative Planning Acquires 5,071 Shares of Crown Castle Inc. $CCI

Creative Planning grew its holdings in Crown Castle Inc. (NYSE:CCI) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,144 shares of the real estate investment trust’s stock after buying an additional 5,071 shares during the quarter. Creative Planning’s holdings in Crown Castle were worth $7,000,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in CCI. Teachers Retirement System of The State of Kentucky raised its stake in shares of Crown Castle by 4.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 33,525 shares of the real estate investment trust’s stock worth $3,494,000 after acquiring an additional 1,381 shares during the last quarter. HighPoint Advisor Group LLC grew its stake in shares of Crown Castle by 16.0% during the first quarter. HighPoint Advisor Group LLC now owns 8,553 shares of the real estate investment trust’s stock valued at $887,000 after purchasing an additional 1,182 shares during the last quarter. Ignite Planners LLC increased its holdings in shares of Crown Castle by 11.3% in the first quarter. Ignite Planners LLC now owns 8,433 shares of the real estate investment trust’s stock valued at $896,000 after purchasing an additional 859 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in Crown Castle by 8.3% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 541,017 shares of the real estate investment trust’s stock worth $56,390,000 after purchasing an additional 41,373 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in Crown Castle by 0.7% in the 1st quarter. KLP Kapitalforvaltning AS now owns 149,979 shares of the real estate investment trust’s stock worth $15,632,000 after purchasing an additional 1,100 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s 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 sale, the executive vice president owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of a number of recent research reports. UBS Group increased their price objective on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, July 25th. JMP Securities reiterated a “market outperform” rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Raymond James Financial lowered their price objective on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 23rd. JPMorgan Chase & Co. cut their target price on shares of Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, KeyCorp reduced their target price on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.18.

Crown Castle Trading Up 0.0%

NYSE CCI opened at $91.05 on Thursday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The stock has a 50-day simple moving average of $94.36 and a 200 day simple moving average of $99.38. The company has a market capitalization of $39.65 billion, a PE ratio of -8.57, a P/E/G ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s payout ratio is currently -39.98%.

About Crown Castle

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.