Panagora Asset Management Inc. Raises Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Crown Castle Inc. by 447.8% in the first quarter, owning 113,881 shares valued at approximately $11.87 million as per SEC filings.
• Several hedge funds, including Vanguard Group and Deutsche Bank AG, also raised their positions in Crown Castle, indicating strong institutional interest with 90.77% of the stock owned by institutional investors.
• Crown Castle recently reported a quarterly dividend of $1.0625 per share, translating to an annual yield of 4.3%, with the next payout date set for September 30th.

Panagora Asset Management Inc. boosted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 447.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,881 shares of the real estate investment trust's stock after purchasing an additional 93,094 shares during the quarter. Panagora Asset Management Inc.'s holdings in Crown Castle were worth $11,870,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of CCI. Lido Advisors LLC boosted its holdings 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 worth $715,000 after acquiring an additional 445 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its holdings in Crown Castle by 17.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 9,090 shares of the real estate investment trust's stock worth $825,000 after acquiring an additional 1,360 shares during the last quarter. AXA S.A. boosted its holdings in Crown Castle by 89.7% during the 4th quarter. AXA S.A. now owns 62,202 shares of the real estate investment trust's stock worth $5,645,000 after acquiring an additional 29,420 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in Crown Castle by 10.7% during the 4th quarter. Aptus Capital Advisors LLC now owns 4,384 shares of the real estate investment trust's stock worth $398,000 after acquiring an additional 424 shares during the last quarter. Finally, Bearing Point Capital LLC purchased a new position in Crown Castle during the 4th quarter worth $472,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Price Performance

NYSE CCI traded up $0.46 on Friday, reaching $95.92. 5,239,376 shares of the company's stock traded hands, compared to its average volume of 3,086,569. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a market cap of $41.77 billion, a PE ratio of -8.99, a P/E/G ratio of 0.73 and a beta of 0.92. The stock has a 50-day simple moving average of $103.52 and a 200 day simple moving average of $101.28.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly 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 return on equity of 619.62% and a negative net margin of 85.54%.The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.62 earnings per share. 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, analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

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 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CCI shares. KeyCorp lifted their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Barclays cut their price objective on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating on the stock in a report on Monday, August 18th. Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. UBS Group boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Finally, Scotiabank boosted their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.41.

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.