Centersquare Investment Management LLC Acquires 117,400 Shares of Crown Castle Inc. $CCI

Key Points

• Centersquare Investment Management increased its Crown Castle stake by 63.8% in the fourth quarter, buying 117,400 additional shares and bringing its total holdings to 301,350 shares worth about $26.8 million.
• Institutional interest in Crown Castle remains high, with several other funds also adding shares and 90.77% of the stock now owned by institutional investors.
• Crown Castle reported quarterly EPS of $1.02, beating estimates, and it also announced a $1.0625 quarterly dividend, equal to an annualized yield of about 4.6%.

Centersquare Investment Management LLC grew its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 63.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 301,350 shares of the real estate investment trust's stock after acquiring an additional 117,400 shares during the period. Centersquare Investment Management LLC owned 0.07% of Crown Castle worth $26,781,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CCI. Empowered Funds LLC raised its position in Crown Castle by 7.5% in the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust's stock worth $1,714,000 after acquiring an additional 1,150 shares during the period. First Trust Advisors LP grew its stake in Crown Castle by 6.9% during the second quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust's stock valued at $9,000,000 after acquiring an additional 5,630 shares in the last quarter. Baird Financial Group Inc. grew its stake in Crown Castle by 3.7% during the second quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust's stock valued at $786,000 after acquiring an additional 272 shares in the last quarter. Jump Financial LLC grew its stake in Crown Castle by 49.3% during the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust's stock valued at $1,121,000 after acquiring an additional 3,603 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Crown Castle by 5.6% during the second quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust's stock valued at $509,000 after acquiring an additional 261 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of recent research reports. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Truist Financial began coverage on shares of Crown Castle in a report on Tuesday, March 31st. They issued a "hold" rating and a $90.00 target price for the company. BMO Capital Markets raised their target price on shares of Crown Castle from $91.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Scotiabank lowered their target price on shares of Crown Castle from $94.00 to $91.00 and set a "sector perform" rating for the company in a report on Tuesday, April 7th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Crown Castle in a report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $98.52.

Crown Castle Trading Down 1.3%

Crown Castle stock opened at $92.13 on Friday. The firm has a 50-day moving average price of $88.80 and a 200-day moving average price of $87.69. The firm has a market capitalization of $40.21 billion, a PE ratio of 38.07, a price-to-earnings-growth ratio of 0.47 and a beta of 0.93. Crown Castle Inc. has a 12-month low of $75.96 and a 12-month high of $115.76.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.42 million. During the same quarter last year, the business posted $1.10 EPS. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, sell-side analysts predict that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.6%. Crown Castle's dividend payout ratio (DPR) is presently 175.62%.

About Crown Castle

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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