OMERS ADMINISTRATION Corp Increases Stake in Crown Castle Inc. $CCI

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Crown Castle Inc. by 432.7% in the first quarter, owning a total of 16,406 shares valued at approximately $1.71 million.
• Crown Castle's latest quarterly earnings showed an EPS of $1.02, exceeding analysts' expectations, despite a 4.2% decline in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $1.0625 per share, with a 4.3% annualized yield, set to be paid to shareholders on September 30th.

OMERS ADMINISTRATION Corp boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 432.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,406 shares of the real estate investment trust's stock after acquiring an additional 13,326 shares during the period. OMERS ADMINISTRATION Corp's holdings in Crown Castle were worth $1,710,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CCI. Lido Advisors LLC lifted its position in Crown Castle by 6.0% during the 4th quarter. Lido Advisors LLC now owns 7,876 shares of the real estate investment trust's stock valued at $715,000 after acquiring an additional 445 shares during the period. Schonfeld Strategic Advisors LLC raised its holdings in Crown Castle by 17.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 9,090 shares of the real estate investment trust's stock worth $825,000 after buying an additional 1,360 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Crown Castle in the fourth quarter worth about $2,132,000. AXA S.A. raised its holdings in Crown Castle by 89.7% in the fourth quarter. AXA S.A. now owns 62,202 shares of the real estate investment trust's stock worth $5,645,000 after buying an additional 29,420 shares during the last quarter. Finally, Ategra Capital Management LLC purchased a new position in Crown Castle in the fourth quarter worth about $1,412,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent analyst reports. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. KeyCorp boosted their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada boosted their target price on shares of Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Crown Castle presently has an average rating of "Moderate Buy" and an average price target of $116.41.

Crown Castle Stock Performance

Shares of CCI traded down $1.81 during mid-day trading on Thursday, reaching $95.26. The stock had a trading volume of 2,147,145 shares, compared to its average volume of 3,233,347. The firm has a market cap of $41.48 billion, a price-to-earnings ratio of -8.95, a PEG ratio of 0.75 and a beta of 0.92. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The business has a fifty day moving average of $103.71 and a 200 day moving average of $101.18.

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 for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business 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 dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle's dividend payout ratio 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.