Tobam Increases Holdings in Crown Castle Inc. $CCI

Tobam grew its holdings in Crown Castle Inc. (NYSE:CCI) by 183.1% in the second quarter, Holdings Channel reports. The institutional investor owned 31,312 shares of the real estate investment trust’s stock after acquiring an additional 20,253 shares during the quarter. Tobam’s holdings in Crown Castle were worth $3,217,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Centerpoint Advisors LLC purchased a new stake in Crown Castle in the 1st quarter worth $26,000. Stone House Investment Management LLC acquired a new position in shares of Crown Castle during the 1st quarter worth about $27,000. Rise Advisors LLC acquired a new stake in Crown Castle in the 1st quarter worth about $28,000. NewSquare Capital LLC raised its holdings in shares of Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

NYSE CCI opened at $94.34 on Wednesday. The firm’s fifty day moving average price is $94.80 and its 200 day moving average price is $99.90. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The company has a market capitalization of $41.08 billion, a price-to-earnings ratio of -8.88, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company posted $1.84 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 annualized dividend and a yield of 4.5%. Crown Castle’s payout ratio is currently -39.98%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCI. KeyCorp lowered their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. UBS Group increased their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Weiss Ratings restated a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday, October 30th. Finally, Scotiabank increased their price target on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $113.12.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.10% of the stock is owned by company insiders.

Crown Castle Profile

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.