AQR Capital Management LLC Has $23.98 Million Stake in Crown Castle Inc. $CCI

AQR Capital Management LLC boosted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 87.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 230,048 shares of the real estate investment trust's stock after acquiring an additional 107,171 shares during the period. AQR Capital Management LLC owned 0.05% of Crown Castle worth $23,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in Crown Castle by 16.4% during the 1st quarter. Advisors Asset Management Inc. now owns 175,592 shares of the real estate investment trust's stock worth $18,302,000 after acquiring an additional 24,729 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Crown Castle during the first quarter valued at about $149,661,000. Amundi raised its position in shares of Crown Castle by 25.6% during the first quarter. Amundi now owns 2,299,518 shares of the real estate investment trust's stock valued at $246,186,000 after buying an additional 468,945 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Crown Castle by 1.5% during the first quarter. Ancora Advisors LLC now owns 8,778 shares of the real estate investment trust's stock valued at $915,000 after buying an additional 131 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec raised its position in shares of Crown Castle by 20.0% during the first quarter. Federation des caisses Desjardins du Quebec now owns 18,933 shares of the real estate investment trust's stock valued at $1,974,000 after buying an additional 3,162 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on CCI shares. Barclays cut their price objective 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. Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. Royal Bank Of Canada upped their price objective on shares of Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, UBS Group upped their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Stock Down 2.5%

NYSE CCI opened at $93.79 on Tuesday. The stock has a market cap of $40.84 billion, a P/E ratio of -8.79, a PEG ratio of 0.73 and a beta of 0.92. The company's 50-day simple moving average is $103.34 and its 200 day simple moving average is $101.45. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share 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 firm's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle's dividend payout ratio (DPR) is presently -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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.