Crown Castle Inc. $CCI Shares Purchased by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP has increased its holdings in Crown Castle Inc. by 1.2%, acquiring an additional 72,511 shares, bringing their total ownership to approximately 5.99 million shares valued at $624.58 million.
• Wall Street analysts are optimistic about Crown Castle's future, with several firms increasing their price targets, resulting in a consensus price target of $116.24 and a current average rating of "Moderate Buy."
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, with a yield of 4.2%, set to be paid on September 30th to shareholders on record by September 15th.

Dimensional Fund Advisors LP increased its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 1.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,992,402 shares of the real estate investment trust's stock after purchasing an additional 72,511 shares during the period. Dimensional Fund Advisors LP owned 1.38% of Crown Castle worth $624,584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CHICAGO TRUST Co NA raised its position in Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after buying an additional 104 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Crown Castle by 18.9% in the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 107 shares in the last quarter. Abel Hall LLC increased its position in Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after purchasing an additional 115 shares during the period. Beacon Capital Management LLC raised its stake in shares of Crown Castle by 36.6% during the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after buying an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after purchasing an additional 120 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on CCI. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Barclays cut their target price on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday. JMP Securities reissued a "market outperform" rating and set a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. Royal Bank Of Canada upped their target price on Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Stock Up 1.8%

Shares of NYSE:CCI traded up $1.7610 during midday trading on Tuesday, reaching $102.3110. The company's stock had a trading volume of 2,589,266 shares, compared to its average volume of 3,231,014. The firm has a market cap of $44.55 billion, a price-to-earnings ratio of -9.59, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. The business has a 50 day moving average price of $103.59 and a 200 day moving average price of $100.42. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued 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. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $1.62 EPS. The firm's quarterly revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal 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 issued 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 4.2%. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Crown Castle Company 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.