Sumitomo Mitsui Trust Group Inc. grew its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 899,853 shares of the real estate investment trust's stock after purchasing an additional 19,789 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.21% of Crown Castle worth $92,442,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Iron Horse Wealth Management LLC acquired a new position in Crown Castle in the first quarter valued at about $26,000. Centerpoint Advisors LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new stake in Crown Castle in the 1st quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Crown Castle during the first quarter worth $28,000. Finally, WPG Advisers LLC acquired a new position in Crown Castle during the first quarter worth $33,000. 90.77% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on Crown Castle from $115.00 to $117.00 and gave the company a "neutral" rating in a report on Thursday. Wells Fargo & Company cut their price target on shares of Crown Castle from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, October 20th. JMP Securities reissued a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Crown Castle in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $113.12.
Read Our Latest Analysis on CCI
Crown Castle Stock Performance
CCI stock opened at $98.58 on Friday. The company's 50 day moving average price is $97.03 and its 200 day moving average price is $100.62. The firm has a market capitalization of $42.93 billion, a price-to-earnings ratio of -9.27, a PEG ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76.
Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping the consensus estimate of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the business posted $1.84 EPS. The firm's revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Equities analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.0625 dividend. The ex-dividend date was 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 currently -39.98%.
About Crown Castle
(
Free Report)
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.
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