Key Points
- Insider sale: VP Robert Sean Collins sold 2,500 Crown Castle shares for about $222,175, reducing his direct holdings by 48.89% to 2,613 shares.
- Quarterly results missed expectations: Crown Castle reported EPS of $0.67 versus a $0.69 consensus and revenue of $995 million versus estimates of $1.01 billion; revenue declined 7.2% year over year.
- Dividend and analyst outlook: The company announced a quarterly dividend of $1.0625 per share, an annualized $4.25 and 4.8% yield. Analysts’ consensus rating was “Moderate Buy,” with a $94.27 price target.
Crown Castle Inc. (NYSE:CCI - Get Free Report) VP Robert Collins sold 2,500 shares of the firm's stock in a transaction on Friday, November 6th. The shares were sold at an average price of $88.87, for a total transaction of $222,175.00. Following the completion of the transaction, the vice president directly owned 2,613 shares of the company's stock, valued at approximately $232,217.31. This trade represents a 48.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Crown Castle Trading Up 1.7%
Shares of CCI stock opened at $89.31 on Wednesday. The firm's fifty day moving average price is $77.61 and its two-hundred day moving average price is $82.29. Crown Castle Inc. has a 1 year low of $65.32 and a 1 year high of $95.07. The firm has a market capitalization of $38.00 billion, a P/E ratio of 47.00, a PEG ratio of 0.77 and a beta of 0.88.
Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.02). The business had revenue of $995.00 million for the quarter, compared to analyst estimates of $1.01 billion. Crown Castle had a negative return on equity of 42.11% and a net margin of 20.12%. The company's quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. As a group, equities research analysts forecast that Crown Castle Inc. will post 4.40 EPS for the current fiscal year.
Crown Castle Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, December 15th. Crown Castle's dividend payout ratio is presently 223.68%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. BMO Capital Markets decreased their price target on Crown Castle to $93.00 and set an "outperform" rating for the company in a research note on Monday, October 19th. Weiss Ratings upgraded Crown Castle from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, October 26th. Citigroup reiterated a "market outperform" rating on shares of Crown Castle in a research note on Thursday, October 22nd. Jefferies Financial Group cut their price objective on Crown Castle from $88.00 to $82.00 and set a "hold" rating for the company in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. downgraded Crown Castle from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $85.00 to $80.00 in a report on Monday, September 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.27.
Get Our Latest Stock Report on CCI
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Front Row Advisors LLC raised its holdings in shares of Crown Castle by 1.4% in the 1st quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust's stock valued at $757,000 after purchasing an additional 130 shares during the period. Linscomb Wealth Inc. lifted its stake in Crown Castle by 0.3% in the 2nd quarter. Linscomb Wealth Inc. now owns 53,512 shares of the real estate investment trust's stock valued at $4,052,000 after purchasing an additional 145 shares during the last quarter. NBH Bank grew its holdings in Crown Castle by 19.4% during the third quarter. NBH Bank now owns 892 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 145 shares during the period. Everhart Financial Group Inc. grew its holdings in Crown Castle by 2.7% during the second quarter. Everhart Financial Group Inc. now owns 5,856 shares of the real estate investment trust's stock worth $443,000 after purchasing an additional 153 shares during the period. Finally, Mirador Capital Partners LP grew its holdings in Crown Castle by 2.1% during the third quarter. Mirador Capital Partners LP now owns 8,512 shares of the real estate investment trust's stock worth $567,000 after purchasing an additional 177 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Crown Castle Company Profile
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Get Free Report)
Crown Castle Inc. (NYSE: CCI) owns and operates wireless communications infrastructure in the United States. Its portfolio includes cell towers and small-cell networks that help wireless carriers expand coverage and capacity. The company leases space on its infrastructure to wireless carriers and other customers, allowing multiple users to deploy communications equipment on shared sites. Crown Castle has also operated fiber infrastructure and related services, which support small-cell networks and other connectivity needs.
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