Danske Bank A S purchased a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 207,467 shares of the real estate investment trust's stock, valued at approximately $15,711,000.
Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC grew its position in shares of Crown Castle by 7.5% during the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust's stock worth $1,714,000 after purchasing an additional 1,150 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Crown Castle by 6.9% in the second quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust's stock valued at $9,000,000 after buying an additional 5,630 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Crown Castle by 3.7% in the second quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust's stock valued at $786,000 after buying an additional 272 shares during the period. Jump Financial LLC grew its position in Crown Castle by 49.3% during the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust's stock worth $1,121,000 after buying an additional 3,603 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Crown Castle by 5.6% during the second quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust's stock worth $509,000 after buying an additional 261 shares in the last quarter. 90.77% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have weighed in on CCI. The Goldman Sachs Group assumed coverage on Crown Castle in a report on Friday, June 26th. They issued a "neutral" rating and a $95.00 price objective for the company. BMO Capital Markets decreased their price target on Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, July 20th. Citigroup reaffirmed a "market outperform" rating on shares of Crown Castle in a research note on Friday, July 24th. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $95.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Finally, TD Cowen reduced their price objective on shares of Crown Castle from $94.00 to $92.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $95.13.
View Our Latest Analysis on CCI
Crown Castle Stock Performance
Shares of CCI stock opened at $75.44 on Friday. The stock's fifty day moving average price is $78.19 and its two-hundred day moving average price is $84.17. The company has a market cap of $32.10 billion, a PE ratio of 38.29, a P/E/G ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a fifty-two week low of $69.72 and a fifty-two week high of $104.61.
Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.17). The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.Crown Castle's quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm posted $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, equities analysts predict that Crown Castle Inc. will post 4.39 EPS for the current fiscal year.
Crown Castle Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $1.0625 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. Crown Castle's dividend payout ratio is 215.74%.
Insider Activity at Crown Castle
In other news, VP Robert Sean Collins sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the sale, the vice president directly owned 5,113 shares in the company, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.
Crown Castle Company Profile
(
Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Crown Castle, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Crown Castle wasn't on the list.
While Crown Castle currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI wave will soon hit public markets with Anthropic and OpenAI set to go public later this year. However, you don't have to wait to invest. This report shows seven AI stocks that you can buy today while the big model providers get ready to go public.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
