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

Peapack Gladstone Financial Corp trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 14.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,451 shares of the real estate investment trust’s stock after selling 11,372 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Crown Castle were worth $5,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the company. Foresight Group Ltd Liability Partnership boosted its stake in shares of Crown Castle by 25.8% during the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after acquiring an additional 21,194 shares during the last quarter. National Pension Service boosted its stake in shares of Crown Castle by 3.5% during the 3rd quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock worth $63,374,000 after acquiring an additional 21,986 shares during the last quarter. Aberdeen Group plc grew its stake in shares of Crown Castle by 13.9% during the 4th quarter. Aberdeen Group plc now owns 1,052,667 shares of the real estate investment trust’s stock valued at $93,551,000 after acquiring an additional 128,212 shares during the period. Vinva Investment Management Ltd grew its stake in shares of Crown Castle by 30.9% during the 3rd quarter. Vinva Investment Management Ltd now owns 197,804 shares of the real estate investment trust’s stock valued at $19,027,000 after acquiring an additional 46,693 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Crown Castle by 9.9% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 672,933 shares of the real estate investment trust’s stock valued at $60,086,000 after acquiring an additional 60,497 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of recent research reports. Barclays boosted their price objective on Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Zacks Research upgraded Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. The Goldman Sachs Group cut their price objective on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Finally, Citigroup cut their price objective on Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $98.52.

Crown Castle Stock Performance

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

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, equities analysts predict that Crown Castle Inc. will post 4.22 EPS 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 given a $1.0625 dividend. The ex-dividend date is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is currently 175.62%.

Crown Castle Company 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.