Amundi Grows Stake in Crown Castle Inc. $CCI

Key Points

• Amundi increased its stake in Crown Castle Inc. by 25.6%, buying an additional 468,945 shares, bringing their total ownership to approximately $246.2 million.
• Institutional investors hold 90.77% of Crown Castle's stock, highlighting substantial interest from the investment community.
• Analysts have set varying price targets for Crown Castle's stock, with estimates ranging from $114.00 to $125.00, reflecting a generally positive outlook on the company.

Amundi increased its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,299,518 shares of the real estate investment trust's stock after purchasing an additional 468,945 shares during the quarter. Amundi owned about 0.53% of Crown Castle worth $246,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CCI. Vanguard Group Inc. increased its position in shares of Crown Castle by 10.1% in the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the last quarter. Wellington Management Group LLP raised its holdings in Crown Castle by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust's stock valued at $2,229,260,000 after buying an additional 538,049 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Crown Castle by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust's stock worth $624,584,000 after purchasing an additional 72,511 shares during the period. Deutsche Bank AG lifted its holdings in Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after buying an additional 2,072,198 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Crown Castle by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust's stock valued at $543,264,000 after acquiring an additional 90,371 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCI has been the subject of several research reports. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Royal Bank Of Canada raised their target price on shares of Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Barclays reduced their price target on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Crown Castle has an average rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Stock Performance

Shares of CCI traded down $0.02 during midday trading on Wednesday, hitting $94.48. 460,286 shares of the company traded hands, compared to its average volume of 3,302,670. The stock has a market cap of $41.14 billion, a price-to-earnings ratio of -8.85, a PEG ratio of 0.71 and a beta of 0.92. The firm has a 50 day moving average of $103.15 and a 200-day moving average of $101.40. 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 announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm 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 revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's payout ratio is -39.83%.

Crown Castle Profile

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.