Cibc World Market Inc. Acquires Shares of 146,890 Crown Castle Inc. $CCI

Key Points

• Cibc World Market Inc. acquired 146,890 shares of Crown Castle during the second quarter, valued at approximately $11.1 million. Institutional investors collectively own 90.77% of the REIT.
• Analyst sentiment remains cautiously positive, with Crown Castle holding a “Moderate Buy” consensus rating and an average price target of $95.13, although several firms recently reduced their targets and maintained neutral or hold ratings.
• Crown Castle reported quarterly earnings of $0.22 per share, below the $0.39 consensus estimate, while revenue reached $1.01 billion and declined 4.9% year over year. The company declared a quarterly dividend of $1.0625 per share, representing a 5.6% yield.

Cibc World Market Inc. acquired a new position in Crown Castle Inc. (NYSE:CCI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 146,890 shares of the real estate investment trust's stock, valued at approximately $11,124,000.

Several other institutional investors have also recently made changes to their positions in CCI. Wiser Advisor Group LLC purchased a new stake in Crown Castle in the third quarter valued at $29,000. Triumph Capital Management purchased a new position in shares of Crown Castle during the 3rd quarter valued at about $31,000. Hilton Head Capital Partners LLC raised its stake in shares of Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 134 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of Crown Castle in the 4th quarter valued at about $34,000. Finally, Global Assets Advisory LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on CCI shares. Truist Financial dropped their target price on Crown Castle from $95.00 to $87.00 and set a "hold" rating on the stock in a report on Tuesday, July 28th. The Goldman Sachs Group initiated coverage on Crown Castle in a research report on Friday, June 26th. They issued a "neutral" rating and a $95.00 price objective on the stock. Wolfe Research cut shares of Crown Castle from an "outperform" rating to a "peer perform" rating in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Crown Castle from $95.00 to $85.00 and set a "neutral" rating for the company in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $95.13.

Insiders Place Their Bets

In related news, VP Robert Sean Collins sold 1,500 shares of the firm's 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 transaction, the vice president directly owned 5,113 shares of the company's stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company's stock.

Crown Castle Stock Performance

Crown Castle stock opened at $76.38 on Tuesday. The stock has a market capitalization of $32.50 billion, a P/E ratio of 38.77, a P/E/G ratio of 0.40 and a beta of 0.95. The company's fifty day moving average price is $77.61 and its 200 day moving average price is $84.05. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $104.08.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.17). The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The business's revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Sell-side analysts predict that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 15th. Crown Castle's dividend payout ratio is 215.74%.

Crown Castle 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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