California State Teachers Retirement System Raises Stock Holdings in Crown Castle Inc. $CCI

Key Points

• California State Teachers Retirement System increased its Crown Castle stake by 7,321.8% to 52.8 million shares, representing 12.42% of the company and about $4.0 billion in value. Institutional investors collectively own 90.77% of CCI.
• Crown Castle reported quarterly EPS of $0.22, below the $0.39 analyst consensus, while revenue reached $1.01 billion and declined 4.9% year over year. Shares recently traded at $73.67, near the lower end of their 12-month range.
• The company declared a quarterly dividend of $1.0625, or $4.25 annually, equating to a 5.8% yield, although its payout ratio is elevated at 215.74%. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $95.13.

California State Teachers Retirement System raised its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7,321.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,821,372 shares of the real estate investment trust's stock after purchasing an additional 52,109,665 shares during the quarter. California State Teachers Retirement System owned 12.42% of Crown Castle worth $4,000,163,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new position in shares of Crown Castle during the 2nd quarter valued at approximately $3,326,154,000. Cohen & Steers Inc. increased its stake in shares of Crown Castle by 11.0% in the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust's stock worth $3,536,214,000 after buying an additional 3,953,685 shares during the last quarter. State Street Corp increased its stake in shares of Crown Castle by 2.4% in the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust's stock worth $1,976,430,000 after buying an additional 511,018 shares during the last quarter. Wellington Management Group LLP raised its holdings in Crown Castle by 2.8% in the fourth quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust's stock valued at $1,243,012,000 after acquiring an additional 380,419 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in Crown Castle by 15.7% in the first quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust's stock valued at $1,094,691,000 after acquiring an additional 1,828,065 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of CCI opened at $73.67 on Friday. The business's fifty day moving average price is $76.15 and its 200 day moving average price is $83.07. Crown Castle Inc. has a 12-month low of $69.72 and a 12-month high of $100.50. The stock has a market capitalization of $31.34 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 0.67 and a beta of 0.95.

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

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.8%. Crown Castle's payout ratio is 215.74%.

Insider Activity at Crown Castle

In other news, VP Robert Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares of the company's stock, valued at approximately $388,025.57. The trade was a 22.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

Analyst Ratings Changes

CCI has been the subject of several recent analyst reports. The Goldman Sachs Group began coverage on shares of Crown Castle in a report on Friday, June 26th. They set a "neutral" rating and a $95.00 price objective for the company. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Citizens Jmp reduced their price target on shares of Crown Castle from $125.00 to $120.00 and set a "market outperform" rating on the stock in a research report on Friday, July 24th. Royal Bank Of Canada reduced their price target on shares of Crown Castle from $92.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. Finally, TD Cowen decreased their price target on Crown Castle from $94.00 to $92.00 and set a "buy" rating for the company in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $95.13.

Crown Castle Company Profile

Crown Castle Inc NYSE: CCI is a communications infrastructure company that owns, operates and leases shared wireless infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company's primary infrastructure includes cell towers and other tower sites that host antennas and related equipment. Crown Castle has also developed and operated fiber networks and small-cell systems, which help wireless providers expand network capacity and coverage in densely populated areas and along high-traffic corridors.

Founded in 1994 and headquartered in Houston, Texas, Crown Castle has historically served customers across major U.S.

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