EFG International AG Acquires New Shares in Crown Castle Inc. $CCI

Key Points

• EFG International AG acquired 27,162 Crown Castle shares worth approximately $2.06 million during the second quarter. Institutional investors collectively own 90.77% of the REIT.
• Crown Castle reported quarterly EPS of $0.22, missing estimates of $0.39, while revenue reached $1.01 billion and declined 4.9% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $95.13.
• The company declared a quarterly dividend of $1.0625, or $4.25 annualized, representing a 5.6% yield. Shares opened at $75.62, near the lower end of their 52-week range.

EFG International AG purchased a new position in Crown Castle Inc. (NYSE:CCI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,162 shares of the real estate investment trust's stock, valued at approximately $2,057,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCI. Wiser Advisor Group LLC purchased a new stake in Crown Castle in the 3rd quarter worth approximately $29,000. Hilton Head Capital Partners LLC lifted its stake in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 134 shares during the last quarter. Triumph Capital Management purchased a new stake in Crown Castle in the third quarter worth approximately $31,000. Global Assets Advisory LLC purchased a new position in shares of Crown Castle during the first quarter worth approximately $32,000. Finally, MV Capital Management Inc. bought a new stake in shares of Crown Castle in the 4th quarter worth approximately $34,000. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares in the company, valued at $388,025.57. This trade represents a 22.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada cut their price objective on shares of Crown Castle from $92.00 to $90.00 and set an "outperform" rating for the company in a research note on Thursday, July 23rd. BMO Capital Markets reduced their target price on Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. The Goldman Sachs Group initiated coverage on Crown Castle in a report on Friday, June 26th. They set a "neutral" rating and a $95.00 target price for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Crown Castle in a research note on Wednesday, August 19th. Finally, Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $95.13.

Crown Castle Stock Down 0.9%

CCI opened at $75.62 on Thursday. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $102.19. The stock has a market cap of $32.17 billion, a PE ratio of 38.39, a PEG ratio of 0.40 and a beta of 0.95. The business has a 50 day moving average of $77.17 and a 200-day moving average of $83.96.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.17). The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities analysts anticipate that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given 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 currently 215.74%.

Crown Castle Profile

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.

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