IFM Investors Pty Ltd Has $11.04 Million Holdings in Crown Castle Inc. $CCI

Key Points

• IFM Investors Pty Ltd reduced its stake in Crown Castle Inc. by 20.2%, holding $11.04 million worth of shares after selling 26,805 shares in the first quarter.
• Crown Castle received various ratings from analysts, with Bank of America issuing a "buy" rating and a price target of $115.00, while Raymond James Financial raised their target price to $124.00.
• The company announced a quarterly dividend of $1.0625 per share, representing an annualized dividend yield of 4.5%, with a payment date set for September 30th.

IFM Investors Pty Ltd reduced its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 105,918 shares of the real estate investment trust's stock after selling 26,805 shares during the period. IFM Investors Pty Ltd's holdings in Crown Castle were worth $11,040,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CCI. Opal Wealth Advisors LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $26,000. Iron Horse Wealth Management LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $27,000. Finally, Rise Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter worth about $28,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Bank of America assumed coverage on Crown Castle in a research report on Monday, May 19th. They issued a "buy" rating and a $115.00 price target for the company. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $124.00 price target (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. JPMorgan Chase & Co. boosted their price target on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Scotiabank boosted their price target on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $116.41.

Crown Castle Price Performance

NYSE:CCI opened at $93.97 on Thursday. The stock has a market cap of $40.92 billion, a P/E ratio of -8.81, a PEG ratio of 0.72 and a beta of 0.92. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a fifty day moving average price of $102.97 and a 200 day moving average price of $101.35.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

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 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 dividend yield of 4.5%. Crown Castle's dividend payout ratio is currently -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.

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