Barclays PLC Sells 101,721 Shares of Crown Castle Inc. $CCI

Key Points

• Barclays PLC reduced its stake in Crown Castle by 7.5% in the fourth quarter, selling 101,721 shares and leaving it with 1,249,553 shares valued at about $111.0 million.
• Crown Castle beat quarterly expectations, reporting EPS of $1.02 versus the $0.47 consensus and revenue of $1.01 billion, though revenue still fell 4.9% year over year.
• The company continues to offer a sizable dividend, declaring a quarterly payout of $1.0625 per share, or $4.25 annualized, for a yield of about 4.8%.

Barclays PLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,249,553 shares of the real estate investment trust's stock after selling 101,721 shares during the quarter. Barclays PLC owned 0.29% of Crown Castle worth $111,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Crown Castle by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust's stock worth $6,200,406,000 after acquiring an additional 386,733 shares during the last quarter. Cohen & Steers Inc. grew its holdings in Crown Castle by 11.0% in the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust's stock worth $3,536,214,000 after acquiring an additional 3,953,685 shares during the last quarter. State Street Corp grew its holdings in Crown Castle by 2.4% in the 4th quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust's stock worth $1,976,430,000 after acquiring an additional 511,018 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Crown Castle by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust's stock valued at $1,156,972,000 after acquiring an additional 184,533 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Crown Castle by 40.5% in the fourth quarter. Deutsche Bank AG now owns 7,159,803 shares of the real estate investment trust's stock valued at $636,292,000 after acquiring an additional 2,065,247 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

CCI stock opened at $88.59 on Tuesday. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The company has a market cap of $38.66 billion, a P/E ratio of 36.61, a PEG ratio of 0.47 and a beta of 0.93. The firm has a 50-day moving average of $89.10 and a 200 day moving average of $87.71.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.55. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. Crown Castle's revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, equities research analysts expect that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 annualized dividend and a yield of 4.8%. Crown Castle's payout ratio is presently 175.62%.

Wall Street Analyst Weigh In

CCI has been the topic of several recent analyst reports. Barclays raised their target price on Crown Castle from $91.00 to $92.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Truist Financial began coverage on Crown Castle in a report on Tuesday, March 31st. They issued a "hold" rating and a $90.00 price objective for the company. Jefferies Financial Group lifted their price objective on Crown Castle from $84.00 to $89.00 and gave the stock a "hold" rating in a research report on Tuesday, April 14th. Wells Fargo & Company restated an "equal weight" rating and set a $85.00 target price (down from $90.00) on shares of Crown Castle in a report on Monday, March 23rd. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Crown Castle in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of "Moderate Buy" and an average price target of $98.52.

Crown Castle Company 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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