Swedbank AB Has $30.59 Million Holdings in Crown Castle Inc. $CCI

Key Points

• Swedbank AB increased its holdings in Crown Castle Inc. by 18.1%, now owning approximately $30.59 million in stock, representing 0.07% of the company.
• Crown Castle recently reported quarterly earnings of $1.02 per share, surpassing expectations, despite a 4.2% decline in revenue year-over-year.
• The company declared a quarterly dividend of $1.0625 per share, translating to an annual yield of 4.5%, with the payment date set for September 30th.

Swedbank AB lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 293,458 shares of the real estate investment trust's stock after purchasing an additional 44,965 shares during the period. Swedbank AB owned 0.07% of Crown Castle worth $30,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CHICAGO TRUST Co NA boosted its holdings in Crown Castle by 3.0% during the first 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 during the period. Harbour Investments Inc. boosted its holdings in Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock valued at $70,000 after acquiring an additional 107 shares during the period. Abel Hall LLC boosted its holdings in 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 valued at $666,000 after acquiring an additional 115 shares during the period. Beacon Capital Management LLC boosted its holdings in 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 valued at $47,000 after acquiring an additional 120 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in 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 valued at $3,894,000 after acquiring an additional 120 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Down 0.2%

NYSE:CCI opened at $95.42 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market capitalization of $41.55 billion, a PE ratio of -8.94, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92. The firm has a 50-day moving average price of $102.67 and a 200 day moving average price of $101.45.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results 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 analyst estimates 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 quarterly 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. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CCI. KeyCorp upped their price target on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. JMP Securities restated a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Barclays decreased their price target on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a report on Monday, August 18th. BMO Capital Markets raised shares of Crown Castle from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $115.00 to $120.00 in a research report on Tuesday, August 19th. Finally, Bank of America began coverage on shares of Crown Castle in a research report on Monday, May 19th. They set a "buy" rating and a $115.00 price objective for the company. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

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.

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