NFJ Investment Group LLC Has $34.07 Million Stock Position in Crown Castle Inc. $CCI

Key Points

• NFJ Investment Group LLC increased its holdings in Crown Castle by 1.6%, acquiring 5,198 new shares, bringing its total ownership to 326,884 shares.
• Several institutional investors, including Vanguard Group Inc. and Deutsche Bank AG, have significantly raised their stakes in Crown Castle during the first quarter, indicating strong institutional interest in the stock.
• Crown Castle recently announced a quarterly dividend of $1.0625 per share, representing a yield of 4.5%, which will be paid out on September 30th.

NFJ Investment Group LLC boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 326,884 shares of the real estate investment trust's stock after purchasing an additional 5,198 shares during the period. Crown Castle makes up approximately 1.1% of NFJ Investment Group LLC's holdings, making the stock its 25th biggest position. NFJ Investment Group LLC owned about 0.08% of Crown Castle worth $34,071,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CCI. CWA Asset Management Group LLC boosted its holdings in shares of Crown Castle by 9.0% during the first quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock worth $278,000 after purchasing an additional 219 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Crown Castle by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock worth $3,665,000 after purchasing an additional 4,276 shares during the period. Legacy Advisors LLC acquired a new position in Crown Castle during the 1st quarter worth $262,000. Everhart Financial Group Inc. bought a new position in Crown Castle in the 1st quarter worth approximately $307,000. Finally, Inspire Trust Co. N.A. lifted its holdings in shares of Crown Castle by 25.0% during the first quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust's stock worth $2,085,000 after buying an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CCI shares. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. JMP Securities restated a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. Scotiabank upped their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Bank of America began coverage on Crown Castle in a report on Monday, May 19th. They issued a "buy" rating and a $115.00 target price on the stock. Finally, Barclays cut their price objective on Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

Crown Castle Stock Performance

CCI traded up $0.59 during midday trading on Tuesday, reaching $94.47. 8,184,786 shares of the company were exchanged, compared to its average volume of 3,319,690. The stock has a market capitalization of $41.14 billion, a P/E ratio of -8.85, a PEG ratio of 0.73 and a beta of 0.92. The stock's 50-day simple moving average is $103.34 and its 200 day simple moving average is $101.45. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating 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 business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the business posted $1.62 EPS. Crown Castle'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. On average, research 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 announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.5%. Crown Castle's dividend payout ratio (DPR) is -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.