Sepio Capital 13F: Exits Crown Castle (CCI) Stake
Key Points
- Sepio Capital sold out of its position in Crown Castle Inc., getting rid of all 13,639 shares according to an October 22, 2026 SEC filing.
- Other large investment managers adjusted their holdings during the period, with Bell Bank adding 23,866 shares to hold 107,989 shares worth about $7.2 million.
- Crown Castle shares closed at $78.83 on the filing date, while Wall Street maintains a consensus buy rating with a mean target price of $94.30.
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Sepio Capital sold out of its position in Crown Castle Inc. (NYSE:CCI), getting rid of all 13,639 shares it held. The complete exit appeared in a Form 13F filing with the SEC on October 22, 2026. Crown Castle shares closed at $78.83 on the day of the filing.
CCI
Crown Castle Inc.
What Changed in Sepio Capital's Crown Castle Position
Sepio Capital closed out its entire investment in Crown Castle during the period, lowering its share count from 13,639 down to zero. The complete liquidation removed a stake that had been valued prior to the sale.
Other Institutional Activity in Crown Castle
Other large money managers made notable moves in Crown Castle stock during recent quarters. Bell Bank grew its holdings by 23,866 shares, ending with 107,989 shares worth about $7.2 million. Frank, Rimerman Advisors picked up a new block of 9,039 shares valued at roughly $602,449. Meanwhile, Cohen & Steers Inc. trimmed its position by 1,279,547 shares to finish with 39,084,710 shares worth about $3.1 billion. Lazard Asset Management LLC boosted its stake by 1,637,060 shares, leaving it with 15,099,726 shares valued at approximately $1.2 billion.
Crown Castle Inc. Stock Down 3.1%
Crown Castle shares recently traded around $78.65 as of October 23, 2026. The stock closed at $78.83 on the filing date. It sits below its 200-day moving average of $82.26 and well under its 52-week high of $100.50.
Recent Earnings
The real estate investment trust reported trailing twelve-month revenue of $4.2 billion and earnings of $2.49 per share.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
1 target raises vs 1 cuts.
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EPS & revenue
EPS missed estimates by 13.3%. Revenue met estimates.
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Profit surprise
EBITDA missed by 3 percent. Operating income met by 1 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 target raise, 1 target cut.
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Earnings quality
Gross margin down 1.1 points. Operating margin down 3.1 points. Positive free cash flow.
Earnings Call Summary
Crown Castle delivered a solid first quarter with organic growth of 3.1 percent, though this was held back by $49 million in DISH terminations and $5 million in Sprint cancellations. The company is pursuing a transformation to become a best-in-class tower operator by cutting costs by $65 million on an annualized basis, buying more land under towers, and exploring new revenue opportunities like edge data centers and power-as-a-service. Management remains confident in the legal case against DISH for unpaid obligations and expects the fiber and small cell sale to close by mid-2026.
Guidance Crown Castle kept its full year outlook unchanged. The company expects about $3.9 billion in site rental revenue for 2026 and $2.7 billion in adjusted EBITDA at the midpoint. The company plans to spend about $1 billion on share buybacks and $7 billion on debt repayment after selling its fiber and small cell businesses, expected to close in the first half of 2026.
Negative report. Results or guidance disappointed and expectations are likely to move lower.
Dividend
The company pays an annual dividend rate of $4.25 per share, offering a dividend yield of 5.4%.
Insider Buying and Selling at Crown Castle Inc.
Company insiders executed several trades earlier in the year. General Counsel Edward B. Adams Jr. sold 4,650 shares on February 25, 2026, at an average price of $86.34. Officer Robert Sean Collins sold 3,000 shares on February 27, 2026, at $87.49 per share, and later sold another 1,500 shares on August 7, 2026, at $75.89. Director Kevin A. Stephens bought 820 shares on May 5, 2026, at $90.24 per share.
Analysts Set New Price Targets
Wall Street research firms updated their outlooks on the stock through October 2026. Barclays maintained an overweight rating on September 30, 2026, with an $86 price target. BMO Capital kept an outperform rating on October 22, 2026, adjusting its target to $91. TD Cowen maintained a buy rating on October 22, 2026, lifting its target to $98.
About Crown Castle
Crown Castle owns, operates and leases roughly 40,000 cell towers across the United States. This nationwide network provides the infrastructure needed for wireless carriers to deliver mobile data and voice services to cities and communities.
Bottom Line
Investors will monitor Crown Castle's upcoming filings and earnings reports to gauge how institutional sentiment evolves. The stock continues to navigate shifting interest rate environments and telecom spending trends.
Related Filing Alerts
Source: Sepio Capital's 13F filing on $CCI (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts