14,912 Shares in Crown Castle Inc. (NYSE:CCI) Acquired by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. invested approximately $1.55 million in Crown Castle Inc., acquiring 14,912 shares of the real estate investment trust in the first quarter.
• Crown Castle's stock has seen significant interest from institutional investors, with 90.77% of the stock owned by these entities, and notable growth in holdings from firms like Federated Hermes.
• The company declared a quarterly dividend of $1.0625, resulting in an annualized yield of 4.2%, with the ex-dividend date set for September 15.

E Fund Management Co. Ltd. acquired a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 14,912 shares of the real estate investment trust's stock, valued at approximately $1,554,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Crown Castle by 1.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 6,144,359 shares of the real estate investment trust's stock worth $557,662,000 after buying an additional 58,903 shares during the period. Deutsche Bank AG raised its holdings in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after buying an additional 2,072,198 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Crown Castle by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust's stock worth $543,264,000 after buying an additional 90,371 shares during the period. Finally, Northern Trust Corp raised its holdings in Crown Castle by 24.2% during the 4th quarter. Northern Trust Corp now owns 4,729,215 shares of the real estate investment trust's stock worth $429,224,000 after buying an additional 920,428 shares during the period. Institutional investors own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on CCI shares. Raymond James Financial restated a "strong-buy" rating and set a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. KeyCorp lifted their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Royal Bank Of Canada raised their target price on shares of Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research note on Thursday, August 7th. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, New Street Research raised Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $116.24.

Crown Castle Stock Up 0.6%

CCI traded up $0.56 during midday trading on Friday, reaching $101.61. The company had a trading volume of 2,849,875 shares, compared to its average volume of 3,616,050. The business has a 50-day moving average of $103.56 and a two-hundred day moving average of $100.27. The company has a market cap of $44.25 billion, a P/E ratio of -9.52, a P/E/G ratio of 0.77 and a beta of 0.89. 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 released its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. On average, equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 4.2%. Crown Castle's payout ratio is -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.