State Street Corp Boosts Holdings in Crown Castle Inc. $CCI

Key Points

• State Street increased its Crown Castle stake by 0.9% in the second quarter, bringing its holdings to 23.02 million shares worth approximately $1.74 billion, or 5.41% of the company. Institutional investors collectively own 90.77% of CCI.
• Crown Castle shares opened at $72.33, near their 12-month low of $69.72 and below both their 50-day and 200-day moving averages. Analysts’ average rating is “Hold,” with an average price target of $94.37.
• The company reported quarterly EPS of $0.69, exceeding estimates of $0.51, while revenue fell 4.9% year over year to $1.01 billion. Crown Castle also declared a quarterly dividend of $1.0625 per share, representing a 5.9% annualized yield.

State Street Corp lifted its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 0.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,023,394 shares of the real estate investment trust's stock after purchasing an additional 211,633 shares during the period. State Street Corp owned 5.41% of Crown Castle worth $1,743,562,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Crown Castle in the second quarter valued at approximately $3,326,154,000. Cohen & Steers Inc. boosted its holdings in Crown Castle by 11.0% in the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust's stock worth $3,536,214,000 after buying an additional 3,953,685 shares during the period. Lazard Asset Management LLC grew its stake in Crown Castle by 15.7% in the 1st quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust's stock valued at $1,094,691,000 after buying an additional 1,828,065 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Crown Castle by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust's stock worth $1,156,972,000 after acquiring an additional 184,533 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Crown Castle by 40.5% in the fourth quarter. Deutsche Bank AG now owns 7,159,803 shares of the real estate investment trust's stock worth $636,292,000 after acquiring an additional 2,065,247 shares during the period. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Down 1.2%

NYSE CCI opened at $72.33 on Wednesday. The stock's 50-day simple moving average is $75.50 and its two-hundred day simple moving average is $82.22. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $100.50. The company has a market capitalization of $30.77 billion, a price-to-earnings ratio of 36.72, a PEG ratio of 0.66 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.18. The firm had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The company's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, equities analysts expect that Crown Castle Inc. will post 4.38 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.9%. Crown Castle's dividend payout ratio (DPR) is 215.74%.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the sale, the vice president directly owned 5,113 shares in the company, valued at $388,025.57. This represents a 22.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company's stock.

Analyst Ratings Changes

CCI has been the topic of a number of analyst reports. TD Cowen decreased their price objective on Crown Castle from $94.00 to $92.00 and set a "buy" rating on the stock in a research note on Thursday, July 23rd. Truist Financial reduced their target price on Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Royal Bank Of Canada decreased their price target on Crown Castle from $92.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. BMO Capital Markets decreased their target price on shares of Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, July 20th. Finally, The Goldman Sachs Group began coverage on shares of Crown Castle in a report on Friday, June 26th. They issued a "neutral" rating and a $95.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $94.37.

Crown Castle Company Profile

Crown Castle Inc NYSE: CCI is a communications infrastructure company that owns, operates and leases shared wireless infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company's primary infrastructure includes cell towers and other tower sites that host antennas and related equipment. Crown Castle has also developed and operated fiber networks and small-cell systems, which help wireless providers expand network capacity and coverage in densely populated areas and along high-traffic corridors.

Founded in 1994 and headquartered in Houston, Texas, Crown Castle has historically served customers across major U.S.

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