MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 29,893 Shares of Crown Castle Inc. $CCI

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Crown Castle Inc. by 5.4%, acquiring an additional 29,893 shares, bringing its total holdings to 587,994 shares, worth approximately $60.4 million.
• Institutional investors own about 90.77% of Crown Castle's shares, with significant increases in stake from major firms like Vanguard Group and Deutsche Bank AG in the first quarter of the year.
• Crown Castle's quarterly earnings surpassed expectations with $1.02 earnings per share, and the company announced a quarterly dividend of $1.0625, reflecting a yield of 4.5%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 587,994 shares of the real estate investment trust's stock after acquiring an additional 29,893 shares during the period. Crown Castle accounts for 1.7% of MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's portfolio, making the stock its 18th largest holding. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH owned 0.14% of Crown Castle worth $60,405,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Crown Castle by 10.1% in the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. Wellington Management Group LLP increased its stake in shares of Crown Castle by 2.6% in the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust's stock worth $2,229,260,000 after purchasing an additional 538,049 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Crown Castle by 1.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust's stock worth $624,584,000 after purchasing an additional 72,511 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after purchasing an additional 2,072,198 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Crown Castle by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust's stock valued at $543,264,000 after purchasing an additional 90,371 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JMP Securities reiterated a "market outperform" rating and issued a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. KeyCorp decreased their target price on Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 17th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $124.00 target price (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $116.06.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $93.74 on Thursday. The business's 50 day moving average price is $101.22 and its 200-day moving average price is $101.34. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $119.56. The company has a market cap of $40.82 billion, a price-to-earnings ratio of -8.79, a PEG ratio of 0.72 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping 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 business posted $1.62 earnings per share. The company's revenue for the quarter was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

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

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.

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