Crown Castle Inc. $CCI Shares Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its stake in Crown Castle Inc. by 9.9%, acquiring an additional 80,556 shares to hold a total of 890,556 shares valued at approximately $92.8 million.
• Institutional investors own 90.77% of Crown Castle's stock, reflecting a strong interest in the real estate investment trust.
• Crown Castle announced a quarterly dividend of $1.0625 per share, leading to an annualized dividend yield of 4.1%.

Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 9.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 890,556 shares of the real estate investment trust's stock after acquiring an additional 80,556 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.20% of Crown Castle worth $92,823,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CCI. Vanguard Group Inc. boosted its position in shares of Crown Castle by 10.1% in the 1st 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 in the last quarter. Nuveen LLC acquired a new stake in shares of Crown Castle in the 1st quarter worth $305,876,000. Deutsche Bank AG boosted its position in shares of 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 purchasing an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Crown Castle by 144.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock worth $357,834,000 after purchasing an additional 2,028,718 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Crown Castle by 107.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,730,309 shares of the real estate investment trust's stock worth $284,580,000 after purchasing an additional 1,412,992 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Performance

Shares of Crown Castle stock traded up $1.44 on Friday, hitting $99.18. The company's stock had a trading volume of 3,262,933 shares, compared to its average volume of 3,001,966. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a fifty day moving average price of $103.98 and a 200-day moving average price of $101.08. The company has a market capitalization of $43.19 billion, a price-to-earnings ratio of -9.30, a price-to-earnings-growth ratio of 0.75 and a beta of 0.89.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business earned $1.62 EPS. Crown Castle's revenue for the quarter was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research report on Thursday, July 24th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, UBS Group lifted their price target on Crown Castle from $124.00 to $127.00 and gave the stock 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 assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $116.41.

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.