Sumitomo Mitsui DS Asset Management Company Ltd Grows Position in Crown Castle Inc. $CCI

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Crown Castle Inc. by 10.2% during Q2, owning 55,552 shares worth approximately $5.7 million as per its latest SEC filing.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, with an annualized dividend yield of 4.5%, set to be paid on September 30th.
• The company's quarterly earnings report showed EPS of $1.02, beating estimates by $0.02, although revenue decreased by 4.2% year-over-year.

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 10.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,552 shares of the real estate investment trust's stock after acquiring an additional 5,144 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Crown Castle were worth $5,707,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Opal Wealth Advisors LLC purchased a new stake in Crown Castle in the first quarter worth $26,000. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle in the first quarter worth $26,000. Centerpoint Advisors LLC bought a new position in Crown Castle in the first quarter worth $26,000. Stone House Investment Management LLC bought a new position in Crown Castle in the first quarter worth $27,000. Finally, Rise Advisors LLC bought a new position in Crown Castle in the first quarter worth $28,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Up 0.5%

Shares of NYSE:CCI traded up $0.44 on Monday, hitting $94.04. 1,405,350 shares of the company traded hands, compared to its average volume of 3,312,127. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $119.56. The stock has a 50 day simple moving average of $101.75 and a 200-day simple moving average of $101.47. The company has a market cap of $40.95 billion, a PE ratio of -8.83, a PEG ratio of 0.71 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly 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 firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $1.62 earnings per share. The company'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, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $105.00 to $125.00 in a report on Thursday, July 24th. Wall Street Zen upgraded Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group increased their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Royal Bank Of Canada increased their price objective on Crown Castle from $112.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, August 7th. Finally, KeyCorp decreased their price objective on Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, September 17th. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $116.06.

About Crown Castle

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.