PNC Financial Services Group Inc. Cuts Stock Position in Crown Castle Inc. $CCI

PNC Financial Services Group Inc. cut its holdings in Crown Castle Inc. (NYSE:CCI) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 99,482 shares of the real estate investment trust’s stock after selling 8,621 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Crown Castle were worth $8,841,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wiser Advisor Group LLC purchased a new stake in shares of Crown Castle in the third quarter valued at approximately $29,000. LRI Investments LLC purchased a new stake in shares of Crown Castle in the third quarter valued at approximately $29,000. Triumph Capital Management purchased a new stake in shares of Crown Castle in the third quarter valued at approximately $31,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Crown Castle in the third quarter valued at approximately $31,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Crown Castle by 269.9% during the third quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 278 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI opened at $91.42 on Friday. The stock has a 50 day moving average price of $86.24 and a 200 day moving average price of $87.63. The stock has a market capitalization of $39.90 billion, a price-to-earnings ratio of 37.78, a PEG ratio of 0.46 and a beta of 0.93. Crown Castle Inc. has a one year low of $75.96 and a one year high of $115.76.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.55. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, analysts predict that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, June 15th. Crown Castle’s dividend payout ratio is presently 175.62%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCI. Jefferies Financial Group boosted their price target on Crown Castle from $84.00 to $89.00 and gave the stock a “hold” rating in a research report on Tuesday, April 14th. The Goldman Sachs Group dropped their price target on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Raymond James Financial boosted their price target on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 23rd. Zacks Research upgraded Crown Castle from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, KeyCorp boosted their price target on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.52.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the sale, the executive vice president directly owned 25,183 shares in the company, valued at $2,174,300.22. This represents a 15.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the completion of the sale, the vice president owned 5,800 shares of the company’s stock, valued at approximately $507,442. The trade was a 34.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.09% of the stock is owned by corporate insiders.

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.