165,000 Shares in Crown Castle Inc. $CCI Acquired by Strs Ohio

Key Points

• Strs Ohio has acquired 165,000 shares of Crown Castle Inc., worth approximately $17.2 million, marking a significant investment by the institutional investor.
• Equities analysts have recently upgraded Crown Castle's stock ratings, with targets ranging from $120 to $127, indicating strong investor confidence in the company's future performance.
• Crown Castle announced a quarterly dividend of $1.0625 per share, with an annualized dividend yield of 4.5%, reflecting its ongoing commitment to return capital to shareholders.

Strs Ohio bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 165,000 shares of the real estate investment trust's stock, valued at approximately $17,198,000.

Other large investors have also bought and sold shares of the company. Opal Wealth Advisors LLC bought a new stake in Crown Castle during the 1st quarter worth approximately $26,000. Iron Horse Wealth Management LLC bought a new stake in Crown Castle during the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC bought a new stake in Crown Castle during the 1st quarter worth approximately $26,000. Stone House Investment Management LLC bought a new stake in Crown Castle during the 1st quarter worth approximately $27,000. Finally, Rise Advisors LLC bought a new stake in Crown Castle during the 1st quarter worth approximately $28,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CCI shares. BMO Capital Markets raised Crown Castle from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $115.00 to $120.00 in a research report on Tuesday, August 19th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. UBS Group upped their price target on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.41.

Crown Castle Trading Down 0.2%

NYSE:CCI opened at $95.42 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a fifty day simple moving average of $102.67 and a 200 day simple moving average of $101.38. The stock has a market capitalization of $41.55 billion, a PE ratio of -8.94, a P/E/G ratio of 0.73 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the business earned $1.62 earnings per share. The firm's revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle's dividend payout ratio (DPR) is currently -39.83%.

About Crown Castle

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.

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