Northern Trust Corp Has $458.64 Million Stock Position in Crown Castle Inc. $CCI

Key Points

• Northern Trust Corp reduced its stake in Crown Castle Inc. by 7%, selling 328,920 shares, and now owns approximately 1.01% of the company valued at $458.6 million.
• Brokerages have recently upgraded Crown Castle's ratings, with Wells Fargo raising its price target from $105 to $125, reflecting positive sentiment among analysts.
• Crown Castle declared a quarterly dividend of $1.0625 per share, with a dividend yield of 4.2%, set to be paid on September 30th.

Northern Trust Corp decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,400,295 shares of the real estate investment trust's stock after selling 328,920 shares during the quarter. Northern Trust Corp owned about 1.01% of Crown Castle worth $458,643,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Partners Group Holding AG grew its position in Crown Castle by 3.5% during the first quarter. Partners Group Holding AG now owns 309,368 shares of the real estate investment trust's stock worth $32,245,000 after buying an additional 10,398 shares in the last quarter. American Investment Services Inc. increased its stake in Crown Castle by 8.0% in the first quarter. American Investment Services Inc. now owns 4,167 shares of the real estate investment trust's stock valued at $434,000 after acquiring an additional 308 shares during the period. Redmond Asset Management LLC increased its position in shares of Crown Castle by 6.9% during the 1st quarter. Redmond Asset Management LLC now owns 14,435 shares of the real estate investment trust's stock worth $1,505,000 after purchasing an additional 928 shares in the last quarter. American Century Companies Inc. increased its position in shares of Crown Castle by 36.9% during the 1st quarter. American Century Companies Inc. now owns 198,171 shares of the real estate investment trust's stock worth $20,655,000 after purchasing an additional 53,405 shares in the last quarter. Finally, Ethic Inc. increased its position in shares of Crown Castle by 9.1% during the 1st quarter. Ethic Inc. now owns 50,614 shares of the real estate investment trust's stock worth $5,295,000 after purchasing an additional 4,226 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CCI. KeyCorp increased their target price on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. BMO Capital Markets raised Crown Castle from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $115.00 to $120.00 in a report on Tuesday. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Crown Castle has an average rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Trading Up 0.8%

Shares of CCI traded up $0.8630 during trading hours on Friday, hitting $103.6630. 2,387,772 shares of the stock traded hands, compared to its average volume of 3,211,609. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a market capitalization of $45.14 billion, a PE ratio of -9.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89. The business has a fifty day moving average of $103.87 and a 200-day moving average of $100.65.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the company earned $1.62 EPS. The firm's revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, equities research analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is currently -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.