Crown Castle Inc. $CCI Shares Sold by Tufton Capital Management

Tufton Capital Management cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 3.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 62,761 shares of the real estate investment trust’s stock after selling 2,397 shares during the period. Tufton Capital Management’s holdings in Crown Castle were worth $6,447,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wilmington Savings Fund Society FSB grew its position in shares of Crown Castle by 0.9% during the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 93 shares in the last quarter. Creative Financial Designs Inc. ADV grew its position in shares of Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 98 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock worth $70,000 after buying an additional 107 shares in the last quarter. Whittier Trust Co. grew its position in shares of Crown Castle by 5.6% during the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock worth $210,000 after buying an additional 109 shares in the last quarter. Finally, Abel Hall LLC grew its position in shares of Crown Castle by 1.8% during the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock worth $666,000 after buying an additional 115 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Crown Castle stock opened at $89.47 on Tuesday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The business has a 50 day simple moving average of $95.85 and a 200-day simple moving average of $100.40. The stock has a market capitalization of $38.96 billion, a PE ratio of -8.42, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business earned $1.84 earnings per share. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.8%. Crown Castle’s dividend payout ratio is presently -39.98%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup lowered their price objective on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. JPMorgan Chase & Co. lowered their price target on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. The Goldman Sachs Group upped their price target on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Raymond James Financial lowered their price target on Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a report on Thursday, October 23rd. Finally, Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and an average target price of $113.12.

Insider Transactions at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction 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 owned 65,571 shares in the company, valued at $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.10% of the company’s stock.

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.