Miller Howard Investments Inc. NY Invests $2.58 Million in Crown Castle Inc. $CCI

Miller Howard Investments Inc. NY purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 26,716 shares of the real estate investment trust’s stock, valued at approximately $2,578,000.

Several other institutional investors have also added to or reduced their stakes in CCI. Vanguard Group Inc. boosted its holdings in shares of Crown Castle by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock valued at $7,118,201,000 after purchasing an additional 449,776 shares in the last quarter. State Street Corp boosted its stake in Crown Castle by 0.5% in the second quarter. State Street Corp now owns 21,461,578 shares of the real estate investment trust’s stock valued at $2,204,748,000 after buying an additional 110,050 shares in the last quarter. Norges Bank acquired a new stake in Crown Castle in the second quarter valued at about $629,431,000. Bank of America Corp DE grew its position in Crown Castle by 2.2% in the second quarter. Bank of America Corp DE now owns 5,534,066 shares of the real estate investment trust’s stock valued at $568,515,000 after acquiring an additional 117,904 shares during the last quarter. Finally, Lazard Asset Management LLC raised its stake in Crown Castle by 3,051.5% during the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after acquiring an additional 5,299,155 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 1.0%

NYSE CCI opened at $83.68 on Friday. The company has a market capitalization of $36.44 billion, a price-to-earnings ratio of -7.87, a PEG ratio of 0.54 and a beta of 0.96. Crown Castle Inc. has a twelve month low of $83.21 and a twelve month high of $115.76. The stock has a fifty day simple moving average of $89.19 and a 200 day simple moving average of $96.20.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. The company had revenue of $1.07 billion during 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 business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Research analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $1.0625 dividend. The ex-dividend date was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.1%. Crown Castle’s payout ratio is -39.98%.

Insider Activity at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CCI. New Street Research downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a research note on Monday, January 5th. Raymond James Financial cut their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research report on Thursday, October 23rd. JPMorgan Chase & Co. decreased 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 note on Thursday, October 23rd. KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Finally, Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $110.33.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.