New York State Teachers Retirement System Has $31.83 Million Stake in Crown Castle Inc. $CCI

Key Points

• The New York State Teachers Retirement System has reduced its stake in Crown Castle Inc. by 5.6%, now owning approximately $31.83 million worth of the company's stock.
• Crown Castle's recent earnings report highlighted a quarterly EPS of $1.02, surpassing analysts' estimates, although its revenue declined 4.2% year-over-year.
• The company announced a quarterly dividend of $1.0625, resulting in an annualized dividend yield of 4.3%, despite a negative return on equity and net margin for the year.

New York State Teachers Retirement System decreased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,842 shares of the real estate investment trust's stock after selling 18,255 shares during the period. New York State Teachers Retirement System owned about 0.07% of Crown Castle worth $31,830,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in CCI. Vanguard Group Inc. increased its holdings in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock valued at $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Nuveen LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $305,876,000. Deutsche Bank AG increased its holdings in shares of Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock valued at $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Crown Castle by 144.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock valued at $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of Crown Castle in the 1st quarter valued at about $149,661,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Down 0.0%

Shares of Crown Castle stock opened at $98.05 on Friday. The stock has a market capitalization of $42.70 billion, a P/E ratio of -9.19, a PEG ratio of 0.74 and a beta of 0.95. The stock has a 50 day moving average price of $97.54 and a two-hundred day moving average price of $100.71. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 619.62% and a negative net margin of 85.54%.The company's revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle's dividend payout ratio is currently -39.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CCI shares. Wolfe Research raised Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Monday, September 22nd. Barclays boosted their price target on Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. KeyCorp lowered their price target on Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, September 17th. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an "outperform" rating in a research note on Wednesday, October 1st. Finally, Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $105.00 to $125.00 in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $114.44.

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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