Crown Castle Inc. $CCI Shares Sold by Parallel Advisors LLC

Parallel Advisors LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 43.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 86,984 shares of the real estate investment trust’s stock after selling 67,126 shares during the quarter. Parallel Advisors LLC’s holdings in Crown Castle were worth $7,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Choreo LLC lifted its stake in shares of Crown Castle by 1.1% during the third quarter. Choreo LLC now owns 11,021 shares of the real estate investment trust’s stock worth $1,063,000 after buying an additional 120 shares during the period. United Asset Strategies Inc. lifted its stake in shares of Crown Castle by 2.5% during the fourth quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 120 shares during the period. Consolidated Portfolio Review Corp lifted its stake in shares of Crown Castle by 1.1% during the third quarter. Consolidated Portfolio Review Corp now owns 10,966 shares of the real estate investment trust’s stock worth $1,058,000 after buying an additional 123 shares during the period. Binnacle Investments Inc lifted its stake in shares of Crown Castle by 10.9% during the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 127 shares during the period. Finally, Integrated Advisors Network LLC lifted its stake in shares of Crown Castle by 5.6% during the third quarter. Integrated Advisors Network LLC now owns 2,489 shares of the real estate investment trust’s stock worth $240,000 after buying an additional 132 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $93.79 on Friday. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The firm has a fifty day moving average price of $87.41 and a 200 day moving average price of $87.61. The stock has a market cap of $40.94 billion, a PE ratio of 38.76, a price-to-earnings-growth ratio of 0.45 and a beta of 0.93.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. During the same quarter in the previous year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter 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 expect that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.5%. Crown Castle’s payout ratio is presently 175.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCI. Citigroup reduced their target price on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 5th. The Goldman Sachs Group reduced their target price on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. BMO Capital Markets raised their target price on shares of Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Wells Fargo & Company reissued an “equal weight” rating and set a $85.00 target price (down from $90.00) on shares of Crown Castle in a report on Monday, March 23rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $98.52.

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.