Jupiter Topco LLC Buys New Position in Crown Castle Inc. $CCI

Key Points

• Jupiter Topco LLC initiated a Crown Castle position by purchasing 56,942 shares valued at approximately $4.31 million. Institutional investors collectively own 90.77% of the REIT.
• Crown Castle’s stock opened at $75.70, near its 52-week low of $69.72 and well below its 52-week high of $100.50. The company’s latest quarterly earnings missed estimates, while revenue fell 4.9% year over year.
• Crown Castle declared a quarterly dividend of $1.0625 per share, representing an annualized $4.25 payout and a 5.6% yield. Analysts maintain a consensus “Moderate Buy” rating with a $95.13 price target, despite several recent target reductions.

Jupiter Topco LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 56,942 shares of the real estate investment trust's stock, valued at approximately $4,310,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cooke & Bieler LP raised its holdings in shares of Crown Castle by 21.2% in the 4th quarter. Cooke & Bieler LP now owns 2,930,797 shares of the real estate investment trust's stock worth $260,460,000 after purchasing an additional 511,763 shares in the last quarter. Legal & General Group Plc grew its position in Crown Castle by 7.2% in the fourth quarter. Legal & General Group Plc now owns 6,025,433 shares of the real estate investment trust's stock worth $535,480,000 after buying an additional 403,943 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of Crown Castle by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 5,506,580 shares of the real estate investment trust's stock valued at $489,370,000 after buying an additional 54,078 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in shares of Crown Castle by 14.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 101,289 shares of the real estate investment trust's stock valued at $9,002,000 after buying an additional 12,610 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Crown Castle by 123.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 36,080 shares of the real estate investment trust's stock valued at $3,206,000 after acquiring an additional 19,962 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

Crown Castle stock opened at $75.70 on Wednesday. The company has a 50 day moving average price of $76.60 and a 200 day moving average price of $83.73. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $100.50. The firm has a market capitalization of $32.21 billion, a price-to-earnings ratio of 38.43, a P/E/G ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data 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). Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $995.05 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company's revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities analysts forecast that Crown Castle Inc. will post 4.39 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. Crown Castle's payout ratio is currently 215.74%.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares of the company's stock, valued at approximately $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company's stock.

Analysts Set New Price Targets

CCI has been the subject of several research reports. Truist Financial reduced their price objective on Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a research note on Tuesday, July 28th. Wolfe Research lowered Crown Castle from an "outperform" rating to a "peer perform" rating in a research report on Wednesday, May 20th. Citigroup reaffirmed a "market outperform" rating on shares of Crown Castle in a report on Friday, July 24th. JPMorgan Chase & Co. decreased their price target on Crown Castle from $95.00 to $85.00 and set a "neutral" rating for the company in a research report on Thursday, July 23rd. Finally, Jefferies Financial Group dropped their price target on Crown Castle from $88.00 to $82.00 and set a "hold" rating on the stock in a research note on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.13.

About Crown Castle

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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