Czech National Bank Boosts Stake in Crown Castle Inc. $CCI

Key Points

• The Czech National Bank increased its stake in Crown Castle Inc. by 6.6%, owning 106,441 shares valued at approximately $10.9 million as of the latest reporting period.
• Analysts have a consensus rating of "Moderate Buy" for Crown Castle, with a target price average of $116.18, reflecting recent upgrades from various banks.
• Crown Castle announced a quarterly dividend of $1.0625 per share, yielding 4.5%, to be paid to shareholders on September 30th.

Czech National Bank lifted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 6.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 106,441 shares of the real estate investment trust's stock after purchasing an additional 6,635 shares during the period. Czech National Bank's holdings in Crown Castle were worth $10,935,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CWA Asset Management Group LLC raised its stake in Crown Castle by 9.0% in the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock worth $278,000 after buying an additional 219 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Crown Castle by 13.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock worth $3,665,000 after buying an additional 4,276 shares in the last quarter. Legacy Advisors LLC bought a new position in Crown Castle in the first quarter worth approximately $262,000. Everhart Financial Group Inc. bought a new position in Crown Castle in the first quarter worth approximately $307,000. Finally, Inspire Trust Co. N.A. raised its stake in Crown Castle by 25.0% in the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust's stock worth $2,085,000 after buying an additional 4,000 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Performance

Shares of NYSE CCI traded up $0.64 during midday trading on Friday, reaching $93.60. 5,261,530 shares of the stock were exchanged, compared to its average volume of 3,761,189. The company has a 50 day simple moving average of $101.75 and a 200 day simple moving average of $101.42. The stock has a market capitalization of $40.76 billion, a P/E ratio of -8.77, a PEG ratio of 0.71 and a beta of 0.92. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $119.56.

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

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Analysts Set New Price Targets

A number of brokerages recently commented on CCI. Raymond James Financial reissued a "strong-buy" rating and issued a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Barclays upped their price target on Crown Castle from $119.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Scotiabank upped their price target on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Crown Castle has an average rating of "Moderate Buy" and an average target price of $116.18.

Crown Castle Profile

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.