Crown Castle Inc. $CCI Shares Bought by Federation des caisses Desjardins du Quebec

Key Points

• Federation des caisses Desjardins du Quebec increased its stake in Crown Castle Inc. by 20% during Q1, holding 18,933 shares worth approximately $1.97 million.
• Crown Castle announced a quarterly dividend of $1.0625 per share, expected to yield 4.4%, with payment set for September 30th.
• The company reported Q2 earnings with an EPS of $1.02, exceeding expectations, but experienced a 4.2% decline in year-over-year revenue.

Federation des caisses Desjardins du Quebec raised its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,933 shares of the real estate investment trust's stock after acquiring an additional 3,162 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Crown Castle were worth $1,974,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Baird Financial Group Inc. raised its stake in Crown Castle by 2.3% during the 4th quarter. Baird Financial Group Inc. now owns 34,476 shares of the real estate investment trust's stock valued at $3,129,000 after buying an additional 764 shares during the last quarter. Crestline Management LP purchased a new stake in Crown Castle during the fourth quarter valued at approximately $295,000. Cresset Asset Management LLC raised its position in Crown Castle by 88.7% during the fourth quarter. Cresset Asset Management LLC now owns 10,725 shares of the real estate investment trust's stock valued at $973,000 after purchasing an additional 5,040 shares during the period. Jefferies Financial Group Inc. lifted its stake in shares of Crown Castle by 13,717.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 480,030 shares of the real estate investment trust's stock worth $43,568,000 after acquiring an additional 476,556 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Crown Castle by 3.8% during the 4th quarter. Janus Henderson Group PLC now owns 64,672 shares of the real estate investment trust's stock worth $5,869,000 after acquiring an additional 2,396 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 1.2%

Shares of CCI traded up $1.13 during midday trading on Thursday, hitting $95.16. 1,250,113 shares of the company's stock traded hands, compared to its average volume of 3,302,898. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm's fifty day moving average is $102.97 and its 200-day moving average is $101.35. The stock has a market capitalization of $41.44 billion, a price-to-earnings ratio of -8.92, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $1.62 EPS. The firm's 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. On average, equities research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.5%. Crown Castle's payout ratio is currently -39.83%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Scotiabank lifted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. UBS Group lifted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $115.00 to $120.00 in a research note on Tuesday, August 19th. Finally, Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Crown Castle has an average rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle 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.