Man Group plc Buys Shares of 305,683 Crown Castle Inc. $CCI

Key Points

• Man Group plc purchased 305,683 Crown Castle shares worth approximately $23.1 million, giving it a 0.07% stake. Institutional investors collectively own 90.77% of CCI.
• Analysts maintain a generally positive outlook, with Crown Castle receiving a consensus “Moderate Buy” rating and an average price target of $95.13.
• Crown Castle reported quarterly EPS of $0.22, below the $0.39 consensus estimate, while revenue reached $1.01 billion. The company declared a quarterly dividend of $1.0625 per share, representing a 5.6% annualized yield.

Man Group plc purchased a new stake in Crown Castle Inc. (NYSE:CCI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 305,683 shares of the real estate investment trust's stock, valued at approximately $23,149,000. Man Group plc owned 0.07% of Crown Castle at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CCI. BlackRock Inc. purchased a new position in Crown Castle in the second quarter worth approximately $3,326,154,000. Norges Bank purchased a new stake in Crown Castle in the fourth quarter valued at $594,670,000. Lazard Asset Management LLC raised its position in Crown Castle by 124.2% in the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust's stock valued at $1,034,013,000 after purchasing an additional 6,445,237 shares during the period. Legal & General Group Plc acquired a new position in shares of Crown Castle in the 2nd quarter valued at $456,897,000. Finally, Deutsche Bank AG acquired a new position in shares of Crown Castle in the 2nd quarter valued at $429,341,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CCI. Truist Financial cut their price objective on Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a research report on Tuesday, July 28th. Barclays upped their target price on shares of Crown Castle from $91.00 to $92.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Citizens Jmp lowered their target price on shares of Crown Castle from $125.00 to $120.00 and set a "market outperform" rating for the company in a research note on Friday, July 24th. The Goldman Sachs Group started coverage on shares of Crown Castle in a research report on Friday, June 26th. They set a "neutral" rating and a $95.00 price target for the company. Finally, Citigroup reissued a "market outperform" rating on shares of Crown Castle in a research note on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of "Moderate Buy" and a consensus target price of $95.13.

Insider Activity

In other news, VP Robert Sean Collins sold 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares of the company's stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company's stock.

Crown Castle Trading Down 0.9%

Shares of NYSE CCI opened at $75.62 on Thursday. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $102.19. The stock has a fifty day simple moving average of $77.17 and a 200-day simple moving average of $83.96. The stock has a market capitalization of $32.17 billion, a PE ratio of 38.39, a PEG ratio of 0.40 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 (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.17). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $995.05 million. During the same quarter in the prior year, the firm posted $0.67 EPS. Crown Castle's quarterly revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, equities analysts predict that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid 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 yield of 5.6%. Crown Castle's dividend payout ratio is 215.74%.

Crown Castle Company Profile

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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