Peapack Gladstone Financial Corp Sells 11,372 Shares of Crown Castle Inc. $CCI

Peapack Gladstone Financial Corp decreased its position in Crown Castle Inc. (NYSE:CCI) by 14.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 66,451 shares of the real estate investment trust’s stock after selling 11,372 shares during the period. Peapack Gladstone Financial Corp’s holdings in Crown Castle were worth $5,905,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CCI. Wiser Advisor Group LLC bought a new stake in Crown Castle in the third quarter valued at $29,000. KERR FINANCIAL PLANNING Corp bought a new stake in Crown Castle in the third quarter valued at $31,000. Triumph Capital Management bought a new stake in Crown Castle in the third quarter valued at $31,000. Salomon & Ludwin LLC boosted its holdings in Crown Castle by 128.7% in the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 215 shares in the last quarter. Finally, Cornerstone Planning Group LLC boosted its holdings in Crown Castle by 269.9% in the third quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 278 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CCI. Scotiabank cut their price target on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 7th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Jefferies Financial Group lifted their price target on shares of Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a report on Tuesday, April 14th. Truist Financial assumed coverage on Crown Castle in a research report on Tuesday, March 31st. They set a “hold” rating and a $90.00 price objective for the company. Finally, Raymond James Financial raised their price objective on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Price Performance

CCI opened at $91.01 on Tuesday. The stock has a 50-day moving average price of $86.80 and a 200-day moving average price of $87.64. The firm has a market cap of $39.72 billion, a PE ratio of 37.61, a P/E/G ratio of 0.46 and a beta of 0.93. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.55. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.42 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.Crown Castle’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, June 15th. Crown Castle’s payout ratio is presently 175.62%.

About Crown Castle

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.