Alyeska Investment Group L.P. Takes $149.66 Million Position in Crown Castle Inc. $CCI

Key Points

• Alyeska Investment Group L.P. acquired 1,435,869 shares of Crown Castle Inc. (NYSE:CCI) in the 1st quarter, valued at approximately $149.7 million, representing a 0.33% stake in the company.
• Crown Castle reported earnings of $1.02 per share, beating estimates, but experienced a 4.2% year-over-year revenue decline with revenues of $1.06 billion.
• The company also announced a quarterly dividend of $1.0625 per share, with an annualized dividend yield of 4.3% for its shareholders.

Alyeska Investment Group L.P. purchased a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,435,869 shares of the real estate investment trust's stock, valued at approximately $149,661,000. Alyeska Investment Group L.P. owned approximately 0.33% of Crown Castle at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $27,000. Finally, American National Bank & Trust acquired a new position in Crown Castle during the first quarter valued at approximately $29,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $0.46 during trading on Friday, hitting $95.92. The company's stock had a trading volume of 5,239,376 shares, compared to its average volume of 3,086,569. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of -8.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92. The stock has a 50-day moving average price of $103.52 and a two-hundred day moving average price of $101.28. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 earnings per share. 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 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. Crown Castle's dividend payout ratio is -39.83%.

Wall Street Analyst Weigh In

Several brokerages have commented on CCI. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. KeyCorp boosted their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. JPMorgan Chase & Co. upped their price target on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Scotiabank upped their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Finally, UBS Group upped their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

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.