Crown Castle Inc. $CCI Shares Bought by Lansforsakringar Fondforvaltning AB publ

Key Points

• Lansforsakringar Fondforvaltning AB has increased its position in Crown Castle Inc. by 2.3%, acquiring a total of 142,499 shares valued at approximately $14.85 million as of the latest SEC filing.
• Crown Castle reported $1.02 earnings per share for the last quarter, exceeding analysts' expectations, despite a 4.2% decline in revenue compared to the previous year.
• The company has declared a quarterly dividend of $1.0625 per share, resulting in an annualized yield of 4.3%, to be paid on September 30th.

Lansforsakringar Fondforvaltning AB publ increased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,499 shares of the real estate investment trust's stock after buying an additional 3,260 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in Crown Castle were worth $14,853,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Integrated Wealth Concepts LLC raised its position in Crown Castle by 7.3% during the fourth quarter. Integrated Wealth Concepts LLC now owns 6,931 shares of the real estate investment trust's stock valued at $629,000 after purchasing an additional 473 shares during the period. Kovitz Investment Group Partners LLC raised its position in Crown Castle by 29.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 9,173 shares of the real estate investment trust's stock valued at $833,000 after purchasing an additional 2,074 shares during the period. Boothbay Fund Management LLC purchased a new stake in Crown Castle during the fourth quarter valued at approximately $373,000. Lido Advisors LLC raised its position in Crown Castle by 6.0% during the fourth quarter. Lido Advisors LLC now owns 7,876 shares of the real estate investment trust's stock valued at $715,000 after purchasing an additional 445 shares during the period. Finally, Schonfeld Strategic Advisors LLC raised its position in Crown Castle by 17.6% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 9,090 shares of the real estate investment trust's stock valued at $825,000 after purchasing an additional 1,360 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Scotiabank upped their price objective on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research report on Friday, July 25th. Citigroup upped their target price on Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.41.

Crown Castle Price Performance

NYSE CCI traded down $0.96 during midday trading on Tuesday, hitting $98.18. 2,772,710 shares of the company traded hands, compared to its average volume of 3,229,555. The company has a market cap of $42.75 billion, a PE ratio of -9.18, a price-to-earnings-growth ratio of 0.75 and a beta of 0.92. The company's 50-day simple moving average is $103.91 and its 200-day simple moving average is $101.23. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the firm earned $1.62 EPS. The business's revenue for the quarter was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a $1.0625 dividend. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. Crown Castle's dividend payout ratio (DPR) is -39.83%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.