Amundi Reduces Position in Crown Castle Inc. $CCI

Amundi trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,777,619 shares of the real estate investment trust's stock after selling 180,465 shares during the quarter. Amundi owned approximately 0.42% of Crown Castle worth $134,619,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Crown Castle by 7,321.8% during the 2nd quarter. California State Teachers Retirement System now owns 52,821,372 shares of the real estate investment trust's stock worth $4,000,163,000 after buying an additional 52,109,665 shares during the last quarter. BlackRock Inc. purchased a new position in Crown Castle during the 2nd quarter worth approximately $3,326,154,000. Norges Bank acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $594,670,000. Lazard Asset Management LLC grew its position in shares of 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 worth $1,034,013,000 after acquiring an additional 6,445,237 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of Crown Castle during the second quarter worth approximately $456,897,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Up 0.2%

Shares of Crown Castle stock opened at $75.95 on Wednesday. The firm has a market cap of $32.31 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95. Crown Castle Inc. has a 52-week low of $69.72 and a 52-week high of $100.50. The company's 50-day simple moving average is $76.23 and its 200-day simple moving average is $83.25.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.05 million. Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. Crown Castle's revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities research analysts anticipate that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets decreased their target price on shares of Crown Castle from $100.00 to $95.00 and set an "outperform" rating for the company in a research note on Monday, July 20th. The Goldman Sachs Group assumed coverage on Crown Castle in a research note on Friday, June 26th. They set a "neutral" rating and a $95.00 price objective for the company. Wolfe Research cut Crown Castle from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 20th. TD Cowen decreased their price objective on Crown Castle from $94.00 to $92.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group lowered their target price on Crown Castle from $88.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $95.13.

Insider Transactions at Crown Castle

In other Crown Castle news, VP Robert Collins sold 1,500 shares of the firm's stock in a transaction on Friday, August 7th. The stock was 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. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company's stock.

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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