Raiffeisen Bank International AG Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Key Points

• Raiffeisen Bank International AG increased its holdings in Crown Castle Inc. by 309.3% during the first quarter, owning 7,768 shares worth $805,000 after purchasing an additional 5,870 shares.
• Crown Castle's latest quarterly earnings showed an EPS of $1.02, exceeding estimates, though revenue decreased by 4.2% year-over-year.
• Despite a recent dividend payment of $4.25 annually, Crown Castle has a negative payout ratio of -39.83%, indicating potential financial strain.

Raiffeisen Bank International AG lifted its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 309.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,768 shares of the real estate investment trust's stock after purchasing an additional 5,870 shares during the period. Raiffeisen Bank International AG's holdings in Crown Castle were worth $805,000 at the end of the most recent reporting period.

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

Crown Castle Stock Performance

NYSE:CCI opened at $107.16 on Tuesday. The stock has a fifty day moving average price of $102.92 and a two-hundred day moving average price of $99.47. The stock has a market capitalization of $46.66 billion, a price-to-earnings ratio of -10.04, a PEG ratio of 0.81 and a beta of 0.89. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. Crown Castle's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. On average, analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, June 13th. Crown Castle's payout ratio is presently -39.83%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Scotiabank raised their price objective on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Royal Bank Of Canada upped their price target on shares of Crown Castle from $107.00 to $112.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Citigroup upped their price target on shares of Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $125.00 price target on shares of Crown Castle in a research report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $116.18.

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.

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