New York Life Investment Management LLC Grows Stock Holdings in Crown Castle Inc. $CCI

New York Life Investment Management LLC boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 1.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 65,221 shares of the real estate investment trust’s stock after purchasing an additional 922 shares during the quarter. New York Life Investment Management LLC’s holdings in Crown Castle were worth $6,700,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Crown Castle by 10.2% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,552 shares of the real estate investment trust’s stock valued at $5,707,000 after acquiring an additional 5,144 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock valued at $3,665,000 after acquiring an additional 4,276 shares during the period. Inspire Trust Co. N.A. raised its stake in shares of Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust’s stock valued at $2,085,000 after acquiring an additional 4,000 shares during the period. Global Wealth Management Investment Advisory Inc. raised its stake in shares of Crown Castle by 44.1% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 49,819 shares of the real estate investment trust’s stock valued at $5,193,000 after acquiring an additional 15,249 shares during the period. Finally, American Assets Investment Management LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $10,395,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $92.40 on Thursday. The company has a market capitalization of $40.24 billion, a PE ratio of -8.69, a P/E/G ratio of 0.70 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The firm’s 50-day moving average is $96.62 and its 200 day moving average is $100.63.

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 the consensus estimate 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 company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business earned $1.84 EPS. The firm’s quarterly 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. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CCI shares. Scotiabank increased their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research note on Friday, July 25th. Wells Fargo & Company reduced their target price on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, October 20th. Citigroup reduced their price target on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. BMO Capital Markets reduced their price target on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, Raymond James Financial reduced their price target on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 23rd. Three 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.12.

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.