Crown Castle Inc. $CCI Position Lessened by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company cut its Crown Castle position by 34.5% in the second quarter, selling 1.53 million shares and retaining 2.92 million shares worth about $220.8 million. Institutional investors and hedge funds collectively own 90.77% of the stock.
• Crown Castle shares opened at $73.67, near the lower end of their 12-month range. The company’s latest quarterly EPS of $0.22 missed estimates of $0.39, while revenue of $1.01 billion exceeded expectations but declined 4.9% year over year.
• The company declared a quarterly dividend of $1.0625, or $4.25 annually, representing a 5.8% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $95.13.

The Manufacturers Life Insurance Company decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 34.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,915,656 shares of the real estate investment trust's stock after selling 1,532,742 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.69% of Crown Castle worth $220,803,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its holdings in Crown Castle by 5.1% during the second quarter. Sequoia Financial Advisors LLC now owns 7,325 shares of the real estate investment trust's stock worth $555,000 after buying an additional 353 shares in the last quarter. MCF Advisors LLC lifted its position in shares of Crown Castle by 34.4% during the 2nd quarter. MCF Advisors LLC now owns 13,454 shares of the real estate investment trust's stock valued at $1,019,000 after acquiring an additional 3,447 shares during the last quarter. National Pension Service grew its holdings in shares of Crown Castle by 8.1% in the 2nd quarter. National Pension Service now owns 674,624 shares of the real estate investment trust's stock worth $51,089,000 after acquiring an additional 50,772 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Crown Castle during the second quarter worth $727,000. Finally, Cidel Asset Management Inc. raised its position in shares of Crown Castle by 8.9% during the second quarter. Cidel Asset Management Inc. now owns 3,525 shares of the real estate investment trust's stock worth $267,000 after purchasing an additional 289 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 2.0%

Shares of CCI opened at $73.67 on Friday. The company has a 50-day moving average price of $76.15 and a two-hundred day moving average price of $83.07. The stock has a market cap of $31.34 billion, a price-to-earnings ratio of 37.39, a P/E/G ratio of 0.67 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $100.50.

Crown Castle (NYSE:CCI - Get Free Report) last posted its 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). The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.05 million. Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The business's revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities research analysts expect that Crown Castle Inc. will post 4.39 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $1.0625 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.8%. Crown Castle's dividend payout ratio is currently 215.74%.

Insider Activity at Crown Castle

In other Crown Castle news, VP Robert Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. This represents a 22.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank Of Canada decreased their price objective on Crown Castle from $92.00 to $90.00 and set an "outperform" rating for the company in a research report on Thursday, July 23rd. Weiss Ratings restated a "hold (c-)" rating on shares of Crown Castle in a report on Wednesday, August 19th. Jefferies Financial Group lowered their price objective on shares of Crown Castle from $88.00 to $82.00 and set a "hold" rating on the stock in a research report on Wednesday, July 15th. Wolfe Research cut shares of Crown Castle from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 20th. Finally, BMO Capital Markets dropped their price target on shares of 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 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. According to MarketBeat.com, Crown Castle presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.13.

About Crown Castle

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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