Fifth Third Bancorp Has $3.30 Million Holdings in Crown Castle Inc. $CCI

Key Points

• Fifth Third Bancorp increased its stake in Crown Castle Inc. by 15.5%, owning 32,135 shares valued at approximately $3.30 million.
• Institutional investors hold a significant majority (90.77%) of Crown Castle's stock, with several firms recently acquiring new positions.
• Analysts have generally upgraded their ratings on Crown Castle, with an average rating of "Moderate Buy" and a price target of $115.82.

Fifth Third Bancorp grew its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 15.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,135 shares of the real estate investment trust's stock after buying an additional 4,307 shares during the quarter. Fifth Third Bancorp's holdings in Crown Castle were worth $3,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new position in Crown Castle during the first quarter worth $26,000. Opal Wealth Advisors LLC acquired a new position in Crown Castle during the first quarter worth $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle during the first quarter worth $27,000. Finally, Rise Advisors LLC acquired a new position in Crown Castle during the first quarter worth $28,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group increased their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Wells Fargo & Company upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. Wolfe Research upgraded shares of Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 target price for the company in a report on Monday. Finally, Royal Bank Of Canada increased their target price on shares of Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Crown Castle has an average rating of "Moderate Buy" and an average price target of $115.82.

Crown Castle Price Performance

Shares of CCI opened at $95.30 on Friday. The firm has a market capitalization of $41.50 billion, a PE ratio of -8.93, a PEG ratio of 0.71 and a beta of 0.92. The company's 50-day moving average is $100.82 and its 200-day moving average is $101.29. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $119.56.

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

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle's dividend payout ratio is presently -39.83%.

About Crown Castle

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.