Caisse DE Depot ET Placement DU Quebec Buys 80,556 Shares of Crown Castle Inc. $CCI

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

A number of other hedge funds have also recently added to or reduced their stakes in CCI. CHICAGO TRUST Co NA lifted its holdings in Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after buying an additional 104 shares during the period. Harbour Investments Inc. lifted its holdings in Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after buying an additional 107 shares during the period. Abel Hall LLC lifted its holdings in Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after buying an additional 115 shares during the period. Beacon Capital Management LLC lifted its holdings in Crown Castle by 36.6% during the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after buying an additional 120 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after buying an additional 120 shares during the period. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on CCI shares. Scotiabank lifted their target price on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. Royal Bank Of Canada boosted their price objective on Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, Bank of America began coverage on Crown Castle in a research note on Monday, May 19th. They issued a "buy" rating and a $115.00 price objective on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $116.41.

Crown Castle Stock Performance

Shares of CCI opened at $103.0720 on Tuesday. The stock has a 50 day moving average price of $103.95 and a two-hundred day moving average price of $100.89. The firm has a market capitalization of $44.88 billion, a P/E ratio of -9.66, a P/E/G ratio of 0.79 and a beta of 0.89. 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 issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The company's revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.1%. Crown Castle's dividend payout ratio is currently -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.

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