Corient Private Wealth LP Takes $8.23 Million Position in Crown Castle Inc. $CCI

Corient Private Wealth LP bought a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 375,059 shares of the real estate investment trust's stock, valued at approximately $8,227,000. Corient Private Wealth LP owned approximately 0.09% of Crown Castle as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of CCI. BlackRock Inc. bought a new stake in Crown Castle during the second quarter valued at about $3,326,154,000. Norges Bank bought a new stake in Crown Castle during the 4th quarter valued at approximately $594,670,000. Lazard Asset Management LLC lifted its holdings in Crown Castle by 124.2% in the 4th quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust's stock worth $1,034,013,000 after purchasing an additional 6,445,237 shares in the last quarter. Legal & General Group Plc bought a new position in Crown Castle in the 2nd quarter worth approximately $456,897,000. Finally, Deutsche Bank AG purchased a new stake in Crown Castle during the 2nd quarter valued at approximately $429,341,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Performance

Crown Castle stock opened at $76.09 on Monday. The company has a 50 day moving average price of $76.91 and a 200-day moving average price of $83.87. Crown Castle Inc. has a fifty-two week low of $69.72 and a fifty-two week high of $100.50. The company has a market capitalization of $32.37 billion, a PE ratio of 38.62, a P/E/G ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.17). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $995.05 million. During the same quarter in the previous year, the firm posted $0.67 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 4.530-4.650 EPS. On average, analysts forecast that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a $1.0625 dividend. 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 currently 215.74%.

Insider Activity

In other news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the transaction, the vice president owned 5,113 shares of the company's stock, valued at approximately $388,025.57. This represents a 22.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CCI shares. Royal Bank Of Canada lowered their target price on shares of Crown Castle from $92.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. TD Cowen cut their target price on shares of Crown Castle from $94.00 to $92.00 and set a "buy" rating for the company in a report on Thursday, July 23rd. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research note on Friday, June 26th. They set a "neutral" rating and a $95.00 price objective for the company. Finally, BMO Capital Markets cut their target price on Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and an average target price of $95.13.

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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