Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Increases Holdings in Crown Castle Inc. $CCI

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Crown Castle Inc. (NYSE:CCI) by 614.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,790 shares of the real estate investment trust’s stock after purchasing an additional 8,420 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Crown Castle were worth $962,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CCI. Wilmington Savings Fund Society FSB grew its stake in shares of Crown Castle by 0.9% in the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock valued at $1,055,000 after buying an additional 93 shares in the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 98 shares during the period. Whittier Trust Co. grew its position in Crown Castle by 5.6% in the second quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock valued at $210,000 after acquiring an additional 109 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Crown Castle by 24.0% during the third quarter. Harbor Capital Advisors Inc. now owns 599 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 116 shares during the period. Finally, NewSquare Capital LLC raised its stake 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 purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the company an “outperform” rating in a research note on Wednesday, October 1st. Weiss Ratings reissued a “sell (d)” rating on shares of Crown Castle in a research report on Monday, December 29th. Jefferies Financial Group lowered their target price on Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, December 16th. JPMorgan Chase & Co. cut their price target on Crown Castle from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, The Goldman Sachs Group increased their price target on Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.06.

Insiders Place Their Bets

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Crown Castle Stock Performance

NYSE:CCI opened at $85.02 on Tuesday. The company has a market capitalization of $37.02 billion, a price-to-earnings ratio of -8.00, a price-to-earnings-growth ratio of 0.54 and a beta of 0.96. Crown Castle Inc. has a one year low of $83.21 and a one year high of $115.76. The stock has a 50-day simple moving average of $89.10 and a 200 day simple moving average of $96.05.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Monday, December 15th. Crown Castle’s payout ratio is currently -39.98%.

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.