40,792 Shares in Crown Castle Inc. $CCI Purchased by iA Global Asset Management Inc.

Key Points

• iA Global Asset Management opened a new position in Crown Castle, buying 40,792 shares worth about $3.63 million in the fourth quarter.
• Crown Castle reported better-than-expected quarterly earnings of $1.02 per share versus estimates of $0.47, while revenue came in at $1.01 billion, slightly above forecasts but down 4.9% year over year.
• The REIT paid a quarterly dividend of $1.0625 per share, or $4.25 annualized, for a yield of 4.9%; analysts currently rate the stock Moderate Buy with a consensus target price of $99.39.

iA Global Asset Management Inc. acquired a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 40,792 shares of the real estate investment trust's stock, valued at approximately $3,625,000.

Several other large investors have also modified their holdings of CCI. LRI Investments LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at $29,000. Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle during the third quarter valued at about $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Crown Castle during the third quarter valued at about $31,000. Triumph Capital Management acquired a new stake in shares of Crown Castle during the third quarter valued at about $31,000. Finally, Salomon & Ludwin LLC increased its position in shares of Crown Castle by 128.7% during the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 215 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Performance

NYSE CCI opened at $86.67 on Monday. The firm has a 50 day simple moving average of $86.00 and a 200-day simple moving average of $87.61. Crown Castle Inc. has a one year low of $75.96 and a one year high of $115.76. The firm has a market cap of $37.83 billion, a price-to-earnings ratio of 35.81, a PEG ratio of 0.44 and a beta of 0.93.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The firm's quarterly revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Equities analysts predict that Crown Castle Inc. will post 4.22 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Friday, March 13th were paid a $1.0625 dividend. The ex-dividend date was Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.9%. Crown Castle's payout ratio is currently 175.62%.

Insider Buying and Selling

In related news, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the completion of the transaction, the vice president owned 5,800 shares in the company, valued at $507,442. The trade was a 34.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares of the company's stock, valued at $2,174,300.22. This represents a 15.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.09% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have weighed in on CCI. Scotiabank dropped their price target on shares of Crown Castle from $94.00 to $91.00 and set a "sector perform" rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company reiterated an "equal weight" rating and set a $85.00 price target (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Jefferies Financial Group lifted their price target on shares of Crown Castle from $84.00 to $89.00 and gave the company a "hold" rating in a research report on Tuesday, April 14th. Weiss Ratings raised shares of Crown Castle from a "sell (d)" rating to a "hold (c-)" rating in a research note on Tuesday, February 24th. Finally, KeyCorp raised their price objective on shares of Crown Castle from $98.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $99.39.

Crown Castle Profile

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.

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