Sumitomo Mitsui Trust Group Inc. Trims Position in Crown Castle Inc. $CCI

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 829,727 shares of the real estate investment trust's stock after selling 60,785 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.19% of Crown Castle worth $67,465,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Wiser Advisor Group LLC purchased a new position in shares of Crown Castle during the third quarter worth $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in Crown Castle in the third quarter valued at $31,000. Triumph Capital Management acquired a new stake in Crown Castle during the 3rd quarter worth about $31,000. Hilton Head Capital Partners LLC grew its position in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 134 shares during the period. Finally, Salomon & Ludwin LLC raised its stake in shares of Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 215 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the subject of several analyst reports. Jefferies Financial Group boosted their price objective on Crown Castle from $84.00 to $89.00 and gave the company a "hold" rating in a report on Tuesday, April 14th. KeyCorp boosted their price target on Crown Castle from $98.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. Wolfe Research downgraded Crown Castle from an "outperform" rating to a "peer perform" rating in a report on Wednesday, May 20th. Scotiabank lowered their price objective on Crown Castle from $94.00 to $91.00 and set a "sector perform" rating on the stock in a research report on Tuesday, April 7th. Finally, Truist Financial assumed coverage on shares of Crown Castle in a research note on Tuesday, March 31st. They set a "hold" rating and a $90.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.52.

Crown Castle Stock Up 3.8%

Shares of CCI stock traded up $2.95 during mid-day trading on Friday, hitting $79.63. 5,364,182 shares of the stock were exchanged, compared to its average volume of 4,317,920. Crown Castle Inc. has a 52-week low of $73.75 and a 52-week high of $115.76. The company has a market cap of $34.75 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The firm has a fifty day moving average of $86.73 and a 200 day moving average of $86.47.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.55. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.Crown Castle's revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Equities analysts predict that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend was Monday, June 15th. Crown Castle's dividend payout ratio is presently 175.62%.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company's assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.