59,151 Shares in Crown Castle Inc. $CCI Purchased by Moore Capital Management LP

Key Points

• Moore Capital Management initiated a position in Crown Castle by purchasing 59,151 shares valued at approximately $4.48 million. Institutional investors collectively own 90.77% of the REIT.
• Analysts maintain a generally positive outlook, with Crown Castle carrying a consensus “Moderate Buy” rating and an average price target of $95.13, above its reported trading price of $76.25.
• Crown Castle reported quarterly EPS of $0.22, below the $0.39 consensus estimate, while revenue reached $1.01 billion and declined 4.9% year over year. The company declared a quarterly dividend of $1.0625 per share, representing a 5.6% annualized yield.

Moore Capital Management LP bought a new position in Crown Castle Inc. (NYSE:CCI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 59,151 shares of the real estate investment trust's stock, valued at approximately $4,480,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Crown Castle during the 2nd quarter valued at $3,326,154,000. Norges Bank purchased a new stake in shares of Crown Castle in the fourth quarter worth $594,670,000. Lazard Asset Management LLC boosted its stake in Crown Castle by 124.2% during the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust's stock valued at $1,034,013,000 after buying an additional 6,445,237 shares during the period. Legal & General Group Plc purchased a new position in Crown Castle during the second quarter worth about $456,897,000. Finally, Deutsche Bank AG bought a new position in Crown Castle in the 2nd quarter worth about $429,341,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research analyst reports. Wolfe Research downgraded Crown Castle from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 20th. Barclays boosted their price target on shares of Crown Castle from $91.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Jefferies Financial Group decreased their target price on shares of Crown Castle from $88.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, July 15th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Crown Castle in a report on Wednesday, August 19th. Finally, TD Cowen reduced their price target on Crown Castle from $94.00 to $92.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.13.

Insider Transactions at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the sale, the vice president owned 5,113 shares of the company's stock, valued at approximately $388,025.57. The trade was a 22.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company's stock.

Crown Castle Trading Up 0.1%

Shares of CCI stock opened at $76.25 on Tuesday. The stock has a market cap of $32.44 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $100.50. The company's fifty day moving average price is $76.78 and its 200-day moving average price is $83.81.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.17). Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.05 million. During the same period in the prior year, the firm earned $0.67 earnings per share. The business's revenue for the quarter was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, sell-side analysts forecast that Crown Castle Inc. will post 4.39 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle's dividend payout ratio (DPR) is 215.74%.

About Crown Castle

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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