Swedbank AB Has $30.98 Million Holdings in Crown Castle Inc. $CCI

Key Points

• Swedbank AB increased its stake in Crown Castle Inc. by 2.8%, holding approximately 301,545 shares valued at $30.98 million as of its latest SEC filing.
• Crown Castle reported $1.02 EPS for the last quarter, exceeding estimates, despite a 4.2% decrease in revenue year-over-year.
• The company recently announced a quarterly dividend of $1.0625 per share, yielding approximately 4.5%, with a payout ratio currently at -39.83%.

Swedbank AB raised its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 2.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 301,545 shares of the real estate investment trust's stock after buying an additional 8,087 shares during the quarter. Swedbank AB owned about 0.07% of Crown Castle worth $30,978,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Tidal Investments LLC raised its stake in shares of Crown Castle by 33.3% in the fourth quarter. Tidal Investments LLC now owns 15,603 shares of the real estate investment trust's stock valued at $1,416,000 after purchasing an additional 3,894 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Crown Castle by 327.1% in the fourth quarter. Two Sigma Investments LP now owns 96,529 shares of the real estate investment trust's stock valued at $8,761,000 after purchasing an additional 73,929 shares in the last quarter. Vident Advisory LLC raised its stake in shares of Crown Castle by 12.6% in the fourth quarter. Vident Advisory LLC now owns 6,500 shares of the real estate investment trust's stock valued at $590,000 after purchasing an additional 727 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Crown Castle in the fourth quarter valued at $2,773,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Crown Castle in the fourth quarter valued at $5,717,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.7%

Shares of CCI opened at $93.60 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $119.56. The firm has a market capitalization of $40.76 billion, a PE ratio of -8.77, a price-to-earnings-growth ratio of 0.71 and a beta of 0.92. The stock's fifty day simple moving average is $101.75 and its 200-day simple moving average is $101.38.

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 (EPS) 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The firm's revenue for the quarter was down 4.2% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently commented on CCI. Barclays upped their target price on Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a research note on Monday, September 15th. Royal Bank Of Canada upped their price target on Crown Castle from $112.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. 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. Finally, KeyCorp lowered their price target on Crown Castle from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.18.

Crown Castle Company 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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