GRS Advisors LLC Purchases Shares of 622,178 Crown Castle Inc. $CCI

GRS Advisors LLC acquired a new position in Crown Castle Inc. (NYSE:CCI) during the second quarter, according to its most recent filing with the SEC. The firm acquired 622,178 shares of the real estate investment trust’s stock, valued at approximately $63,916,000. Crown Castle comprises approximately 6.1% of GRS Advisors LLC’s holdings, making the stock its 6th biggest holding. GRS Advisors LLC owned about 0.14% of Crown Castle at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Vanguard Group Inc. boosted its holdings in Crown Castle by 0.7% in the second quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock valued at $7,118,201,000 after acquiring an additional 449,776 shares in the last quarter. State Street Corp lifted its position in shares of Crown Castle by 0.5% in the 2nd quarter. State Street Corp now owns 21,461,578 shares of the real estate investment trust’s stock worth $2,204,748,000 after purchasing an additional 110,050 shares during the period. Wellington Management Group LLP boosted its stake in shares of Crown Castle by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock valued at $2,229,260,000 after purchasing an additional 538,049 shares in the last quarter. Norges Bank purchased a new position in shares of Crown Castle during the second quarter valued at about $629,431,000. Finally, Dimensional Fund Advisors LP raised its stake in Crown Castle by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock worth $624,584,000 after buying an additional 72,511 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 1.6%

NYSE CCI opened at $90.74 on Tuesday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The stock’s fifty day moving average price is $93.11 and its 200-day moving average price is $98.19. The stock has a market cap of $39.51 billion, a P/E ratio of -8.54, a P/E/G ratio of 0.66 and a beta of 0.94.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business posted $1.84 EPS. Crown Castle’s revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.7%. Crown Castle’s dividend payout ratio is presently -39.98%.

Insider Buying and Selling at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the business’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 value of $2,942,400.00. Following the completion of the transaction, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. The trade was a 31.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CCI. Wells Fargo & Company cut their price objective on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 1st. The Goldman Sachs Group increased their price objective on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Barclays reissued an “equal weight” rating and set a $101.00 price objective (down previously from $104.00) on shares of Crown Castle in a research report on Monday, December 1st. Finally, BMO Capital Markets reduced their target price on shares of Crown Castle from $114.00 to $107.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $111.59.

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.