Quadrature Capital Ltd Reduces Position in Crown Castle Inc. $CCI

Quadrature Capital Ltd reduced its holdings in Crown Castle Inc. by 87.3% in Q2, now owning 3,357 shares worth $345,000. Other institutional investors, like Northwestern Mutual and Korea Investment CORP, adjusted their positions in Crown Castle. The company's stock opened at $88.29, with a market cap of $38.45 billion. Crown Castle reported Q3 earnings of $1.12 EPS, surpassing estimates, and announced a quarterly dividend of $1.0625. Analysts have mixed ratings on the stock, with Barclays setting a $101 price target.

Quadrature Capital Ltd decreased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 87.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,357 shares of the real estate investment trust's stock after selling 23,081 shares during the period. Quadrature Capital Ltd's holdings in Crown Castle were worth $345,000 at the end of the most recent reporting period.

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Several other hedge funds and other institutional investors also recently modified their holdings of CCI. Northwestern Mutual Wealth Management Co. boosted its holdings in Crown Castle by 26.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 17,396 shares of the real estate investment trust's stock worth $1,787,000 after buying an additional 3,678 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Crown Castle by 1.6% during the second quarter. State Board of Administration of Florida Retirement System now owns 408,088 shares of the real estate investment trust's stock worth $41,923,000 after acquiring an additional 6,330 shares in the last quarter. Korea Investment CORP boosted its holdings in shares of Crown Castle by 10.5% in the second quarter. Korea Investment CORP now owns 219,459 shares of the real estate investment trust's stock worth $22,545,000 after acquiring an additional 20,800 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Crown Castle in the second quarter worth $121,000. Finally, Quadrant Capital Group LLC grew its position in shares of Crown Castle by 22.8% in the second quarter. Quadrant Capital Group LLC now owns 11,866 shares of the real estate investment trust's stock valued at $1,219,000 after purchasing an additional 2,205 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.10% of the company's stock.

Crown Castle Stock Down 0.2%

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NYSE:CCI opened at $88.29 on Wednesday. The stock has a market cap of $38.45 billion, a P/E ratio of -8.31, a PEG ratio of 0.66 and a beta of 0.94. The business's 50-day moving average price is $93.56 and its two-hundred day moving average price is $98.54. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data 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. The company had revenue of $1.07 billion during 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 revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

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The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. Crown Castle's dividend payout ratio is presently -39.98%.

Analyst Ratings Changes

A number of analysts recently issued reports on CCI shares. Barclays reiterated an "equal weight" rating and set a $101.00 price objective (down from $104.00) on shares of Crown Castle in a research note on Monday. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Crown Castle in a report on Monday. JPMorgan Chase & Co. decreased their price target on Crown Castle from $120.00 to $115.00 and set a "neutral" rating on the stock in a research report on Thursday, October 23rd. KeyCorp cut their price objective on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, September 17th. Finally, Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Crown Castle presently has a consensus rating of "Moderate Buy" and an average price target of $112.00.

Read Our Latest Report on CCI

Crown Castle Profile

(Free Report)

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.

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