Price T Rowe Associates Inc. MD Has $357.83 Million Stock Position in Crown Castle Inc. $CCI

Key Points

• Price T Rowe Associates Inc. MD significantly increased its stake in Crown Castle Inc. by 144.5% during the first quarter, owning approximately 3.43 million shares worth about $357.8 million.
• Crown Castle recently announced a quarterly dividend of $1.0625, with an annualized yield of 4.1%, payable to shareholders of record on September 15th.
• Analysts have a consensus rating of "Moderate Buy" on Crown Castle's stock, with a price target averaging $116.41, reflecting optimism in the company's growth prospects.

Price T Rowe Associates Inc. MD increased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 144.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,433,109 shares of the real estate investment trust's stock after buying an additional 2,028,718 shares during the period. Price T Rowe Associates Inc. MD owned about 0.79% of Crown Castle worth $357,834,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CHICAGO TRUST Co NA raised its stake in Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after acquiring an additional 104 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after buying an additional 107 shares in the last quarter. Abel Hall LLC raised its position in shares of Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after buying an additional 115 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of Crown Castle by 36.6% during the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after buying an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in shares of Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after buying an additional 120 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 2.4%

CCI stock traded down $2.39 during trading hours on Thursday, hitting $97.76. The company's stock had a trading volume of 1,960,280 shares, compared to its average volume of 3,223,877. The company has a market capitalization of $42.57 billion, a PE ratio of -9.16, a price-to-earnings-growth ratio of 0.77 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. The stock has a 50 day moving average price of $104.02 and a two-hundred day moving average price of $100.89.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced 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 4.3%. The ex-dividend date of this dividend is Monday, September 15th. Crown Castle's payout ratio is currently -39.83%.

Analyst Ratings Changes

A number of research firms recently commented on CCI. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Wells Fargo & Company upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. Raymond James Financial reissued a "strong-buy" rating and issued a $124.00 target price (up from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $115.00 to $120.00 in a research report on Tuesday, August 19th. Finally, Citigroup lifted their target price on shares of Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Three investment 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, the company currently has an average rating of "Moderate Buy" and a consensus 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.