Polar Asset Management Partners Inc. Takes $1.60 Million Position in Crown Castle Inc. $CCI

Key Points

• Polar Asset Management Partners Inc. has acquired 15,325 shares of Crown Castle Inc. valued at approximately $1.6 million in the first quarter.
• Crown Castle recently reported earnings of $1.02 per share, exceeding estimates, although it experienced a 4.2% decline in quarterly revenue year-over-year.
• A quarterly dividend of $1.0625 has been announced, representing an annual yield of 4.4% for shareholders, with the ex-dividend date set for September 15th.

Polar Asset Management Partners Inc. acquired a new position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 15,325 shares of the real estate investment trust's stock, valued at approximately $1,597,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCI. Vanguard Group Inc. increased its position in Crown Castle by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares in the last quarter. Nuveen LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $305,876,000. Deutsche Bank AG grew its position in Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock valued at $570,443,000 after acquiring an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Crown Castle by 144.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock valued at $357,834,000 after acquiring an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Crown Castle in the first quarter valued at approximately $149,661,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Performance

CCI traded up $0.02 during trading on Friday, reaching $95.60. The company had a trading volume of 828,203 shares, compared to its average volume of 3,298,138. The firm's 50-day simple moving average is $102.82 and its 200 day simple moving average is $101.37. The company has a market cap of $41.63 billion, a price-to-earnings ratio of -8.96, a PEG ratio of 0.71 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.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results 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 company 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. The business'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, sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. KeyCorp raised their price target 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. Scotiabank raised their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research report on Friday, July 25th. Barclays decreased their price target on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Finally, Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $105.00 to $125.00 in a research report on Thursday, July 24th. Three equities research 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $116.41.

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.