Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Grows Stock Position in Crown Castle Inc. $CCI

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 614.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,790 shares of the real estate investment trust’s stock after acquiring an additional 8,420 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Crown Castle were worth $962,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. Miller Howard Investments Inc. NY acquired a new stake in shares of Crown Castle in the third quarter valued at approximately $2,578,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Crown Castle by 1.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 56,089 shares of the real estate investment trust’s stock valued at $5,412,000 after buying an additional 537 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Crown Castle by 32.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 49,747 shares of the real estate investment trust’s stock valued at $4,800,000 after buying an additional 12,190 shares in the last quarter. United Asset Strategies Inc. grew its holdings in Crown Castle by 3.1% during the 3rd quarter. United Asset Strategies Inc. now owns 4,811 shares of the real estate investment trust’s stock valued at $464,000 after buying an additional 143 shares during the last quarter. Finally, Lecap Asset Management Ltd. increased its position in Crown Castle by 9.0% during the third quarter. Lecap Asset Management Ltd. now owns 30,640 shares of the real estate investment trust’s stock worth $2,956,000 after buying an additional 2,523 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the business’s stock in a transaction dated Friday, October 24th. The stock was 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 owned 65,571 shares in the company, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CCI has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. UBS Group restated a “buy” rating and issued a $127.00 target price on shares of Crown Castle in a report on Wednesday, December 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. BMO Capital Markets cut their price objective on shares of Crown Castle from $114.00 to $107.00 and set an “outperform” rating for the company in a research report on Wednesday, December 3rd. Finally, Citigroup reduced their price objective 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. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and a consensus target price of $110.06.

Crown Castle Stock Performance

Crown Castle stock opened at $85.02 on Tuesday. Crown Castle Inc. has a 1 year low of $83.21 and a 1 year high of $115.76. The firm has a 50 day moving average price of $89.10 and a 200 day moving average price of $96.05. The company has a market cap of $37.02 billion, a price-to-earnings ratio of -8.00, a PEG ratio of 0.54 and a beta of 0.96.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) 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 net margin of 95.37% and a negative return on equity of 619.62%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Crown Castle 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.