Anchor Capital Advisors LLC Sells 58,253 Shares of Crown Castle Inc. $CCI

Anchor Capital Advisors LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 13.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 390,144 shares of the real estate investment trust’s stock after selling 58,253 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Crown Castle were worth $34,672,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $29,000. Triumph Capital Management bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $31,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $31,000. Cornerstone Planning Group LLC grew its stake in shares of Crown Castle by 269.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 278 shares in the last quarter. Finally, Salomon & Ludwin LLC grew its stake in shares of Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 215 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCI has been the subject of several recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Raymond James Financial increased their price objective on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a report on Thursday, April 23rd. Wolfe Research downgraded Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Truist Financial initiated coverage on Crown Castle in a report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price objective for the company. Finally, HSBC cut their price objective on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a report on Thursday, February 5th. Two equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $89.94 on Wednesday. The business has a fifty day simple moving average of $86.80 and a two-hundred day simple moving average of $87.64. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The company has a market capitalization of $39.26 billion, a price-to-earnings ratio of 37.17, a P/E/G ratio of 0.46 and a beta of 0.93.

Crown Castle (NYSE:CCI) last announced its quarterly 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. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. During the same quarter last year, the firm posted $1.10 EPS. The company’s quarterly revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, equities analysts anticipate that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, June 15th. Crown Castle’s payout ratio is 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.