Crown Castle Inc. $CCI Position Reduced by Fisher Funds Management LTD

Key Points

• Fisher Funds Management LTD cut its Crown Castle stake by 22.8% in the first quarter, selling 72,133 shares and leaving it with 243,881 shares worth about $19.8 million.
• Institutional ownership remains high, with 90.77% of Crown Castle stock held by hedge funds and other institutions; several other firms also increased their positions during recent quarters.
• Crown Castle posted a quarterly earnings beat, reporting $1.02 EPS versus the $0.47 consensus estimate, while also declaring a quarterly dividend of $1.0625 per share, implying a 5.2% annualized yield.

Fisher Funds Management LTD trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 22.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,881 shares of the real estate investment trust's stock after selling 72,133 shares during the quarter. Fisher Funds Management LTD owned approximately 0.06% of Crown Castle worth $19,830,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Crown Castle by 7.5% during the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust's stock valued at $1,714,000 after buying an additional 1,150 shares in the last quarter. First Trust Advisors LP lifted its stake in Crown Castle by 6.9% in the 2nd quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust's stock worth $9,000,000 after acquiring an additional 5,630 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Crown Castle by 3.7% in the 2nd quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust's stock worth $786,000 after acquiring an additional 272 shares in the last quarter. Jump Financial LLC boosted its position in Crown Castle by 49.3% during the 2nd quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust's stock worth $1,121,000 after acquiring an additional 3,603 shares during the period. Finally, Federated Hermes Inc. boosted its position in Crown Castle by 5.6% during the 2nd quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust's stock worth $509,000 after acquiring an additional 261 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. KeyCorp lifted their target price on Crown Castle from $98.00 to $105.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Barclays increased their price target on shares of Crown Castle from $91.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. Truist Financial assumed coverage on shares of Crown Castle in a report on Tuesday, March 31st. They set a "hold" rating and a $90.00 price target for the company. Wolfe Research downgraded shares of Crown Castle from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 20th. Finally, Raymond James Financial boosted their price objective on shares of Crown Castle from $102.00 to $108.00 and gave the company a "strong-buy" rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and a consensus target price of $98.52.

Crown Castle Trading Down 0.0%

CCI opened at $82.02 on Monday. The stock has a market cap of $35.80 billion, a price-to-earnings ratio of 33.89, a PEG ratio of 0.42 and a beta of 0.93. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The stock has a fifty day moving average price of $89.02 and a 200 day moving average price of $87.55.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.55. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.41 million. During the same period in the prior year, the firm posted $1.10 EPS. The business's revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, sell-side analysts forecast that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.2%. Crown Castle's payout ratio 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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