Empyrean Capital Partners LP acquired a new position in Crown Castle Inc. (NYSE:CCI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 107,000 shares of the real estate investment trust's stock, valued at approximately $8,700,000.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Crown Castle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust's stock worth $6,200,406,000 after acquiring an additional 386,733 shares during the period. Cohen & Steers Inc. grew its position in shares of Crown Castle by 11.0% in the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust's stock valued at $3,536,214,000 after purchasing an additional 3,953,685 shares in the last quarter. State Street Corp raised its stake in shares of Crown Castle by 2.4% during the 4th quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust's stock valued at $1,976,430,000 after purchasing an additional 511,018 shares during the period. Wellington Management Group LLP lifted its holdings in Crown Castle by 2.8% during the 4th quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust's stock worth $1,243,012,000 after purchasing an additional 380,419 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in Crown Castle by 15.7% during the 1st quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust's stock worth $1,094,691,000 after purchasing an additional 1,828,065 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Crown Castle Stock Down 1.0%
Crown Castle stock opened at $74.16 on Tuesday. Crown Castle Inc. has a 52 week low of $73.52 and a 52 week high of $112.75. The business has a 50-day simple moving average of $84.07 and a 200 day simple moving average of $85.63. The stock has a market cap of $32.37 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 0.40 and a beta of 0.95.
Crown Castle Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.7%. Crown Castle's payout ratio is presently 215.74%.
Analysts Set New Price Targets
A number of research firms have weighed in on CCI. Citigroup reaffirmed a "market outperform" rating on shares of Crown Castle in a report on Friday. BMO Capital Markets increased their price target on shares of Crown Castle from $91.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. TD Cowen cut their price objective on shares of Crown Castle from $94.00 to $92.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Royal Bank Of Canada reduced 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. Finally, Jefferies Financial Group upped their target price on shares of Crown Castle from $84.00 to $89.00 and gave the stock a "hold" rating in a report on Tuesday, April 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $95.92.
Check Out Our Latest Research Report on Crown Castle
Crown Castle 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.
Read More
Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI - Free Report).
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.
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
MarketBeat just released its list of the 7 hottest IPOs expected to hit Wall Street in 2026. See which companies are preparing to go public and why investors are watching closely.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
