Quadrant Capital Group Boosts Stake in Crown Castle by 22.8%

Quadrant Capital Group LLC has increased its holdings in Crown Castle Inc. (NYSE: CCI) by 22.8% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm now possesses 11,866 shares of the real estate investment trust (REIT) following its acquisition of an additional 2,205 shares. As of the latest reporting period, these holdings were valued at approximately $1,219,000.

Other institutional investors have also adjusted their positions in Crown Castle. For instance, Centerpoint Advisors LLC entered the market with a new position valued at $26,000 in the first quarter, while Winnow Wealth LLC acquired shares worth about $26,000 in the second quarter. Additionally, Stone House Investment Management LLC and Rise Advisors LLC made new purchases valued at around $27,000 and $28,000, respectively. Notably, NewSquare Capital LLC significantly increased its stake by 74.5% in the second quarter, now holding 281 shares valued at $29,000. Overall, institutional investors and hedge funds collectively own 90.77% of Crown Castle’s stock.

Insider Activity and Stock Performance

In a related development, Crown Castle’s Executive Vice President, Daniel K. Schlanger, sold 30,000 shares of the company on October 24, 2023, at an average price of $98.08, totaling $2,942,400. Following this transaction, Schlanger’s remaining shares are valued at approximately $6,431,203.68, indicating a 31.39% reduction in his holdings. This sale was disclosed in a filing with the Securities and Exchange Commission.

As of the latest trading session, Crown Castle stock opened at $91.28. The company boasts a market capitalization of $39.75 billion, with a price-to-earnings (P/E) ratio of -8.59 and a P/E growth (P/E/G) ratio of 0.68. The stock has experienced a fifty-two week low of $84.20 and a high of $115.76. Its fifty-day simple moving average stands at $93.79, while the 200-day simple moving average is $98.72.

Latest Earnings Report and Dividend Announcement

Crown Castle recently reported its quarterly earnings on October 22, 2023. The REIT posted an earnings per share (EPS) of $1.12, exceeding analysts’ expectations of $1.04 by $0.08. The company generated revenue of $1.07 billion, which surpassed the estimate of $1.05 billion, although this reflects a 4.3% decline compared to the same quarter last year. In the previous year, Crown Castle recorded an EPS of $1.84. For the fiscal year 2025, the company has set its EPS guidance at $4.230-4.350. Analysts predict that Crown Castle will achieve an average EPS of 6.67 for the current year.

Moreover, Crown Castle has announced a quarterly dividend of $1.0625 per share, scheduled for payment on December 31, 2023, to stockholders of record by December 15, 2023. This dividend represents an annualized amount of $4.25 and yields 4.7%. The dividend payout ratio (DPR) is reported at -39.98%.

Crown Castle owns and operates over 40,000 cell towers and approximately 90,000 route miles of fiber, which support small cells and fiber solutions across major markets in the United States. This extensive portfolio of communications infrastructure is vital in connecting communities to essential data and wireless services, ultimately facilitating the flow of information and innovation.