Crown Castle Inc. $CCI Shares Purchased by Norinchukin Bank The

Key Points

• Norinchukin Bank increased its stake in Crown Castle Inc. by 15.7%, owning 23,230 shares worth approximately $2.42 million as of its latest SEC filing.
• Crown Castle's stock has seen positive upgrades from several analysts, with price targets raised to between $113.00 and $125.00, and a consensus rating of "Moderate Buy."
• The company recently reported a quarterly earnings per share (EPS) of $1.02, surpassing expectations, but experienced a year-over-year revenue decline of 4.2% with total revenue recorded at $1.06 billion.

Norinchukin Bank The grew its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 15.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,230 shares of the real estate investment trust's stock after buying an additional 3,154 shares during the period. Norinchukin Bank The's holdings in Crown Castle were worth $2,421,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Crown Castle in the first quarter worth $26,000. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle in the first quarter worth $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter worth $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle in the first quarter worth $27,000. Finally, American National Bank & Trust acquired a new stake in shares of Crown Castle in the first quarter worth $29,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CCI shares. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Citigroup increased their price objective on shares of Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. KeyCorp increased their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. New Street Research upgraded shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets upgraded shares of Crown Castle from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $115.00 to $120.00 in a research note on Tuesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $1.15 during midday trading on Wednesday, hitting $100.24. The company's stock had a trading volume of 3,766,903 shares, compared to its average volume of 3,220,521. The business's 50 day simple moving average is $104.00 and its 200 day simple moving average is $100.90. The company has a market cap of $43.65 billion, a P/E ratio of -9.39, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $1.62 earnings per share. Crown Castle's quarterly revenue was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, sell-side analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $1.0625 per share. 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 4.2%. Crown Castle's 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.