Te Ahumairangi Investment Management Ltd bought a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 49,423 shares of the real estate investment trust's stock, valued at approximately $3,743,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its holdings in shares of Crown Castle by 7.2% during the fourth quarter. Legal & General Group Plc now owns 6,025,433 shares of the real estate investment trust's stock valued at $535,480,000 after acquiring an additional 403,943 shares during the period. Cooke & Bieler LP increased its position in shares of Crown Castle by 21.2% during the 4th quarter. Cooke & Bieler LP now owns 2,930,797 shares of the real estate investment trust's stock worth $260,460,000 after purchasing an additional 511,763 shares in the last quarter. Skylands Capital LLC increased its position in shares of Crown Castle by 6.2% during the 4th quarter. Skylands Capital LLC now owns 262,050 shares of the real estate investment trust's stock worth $23,288,000 after purchasing an additional 15,300 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Crown Castle by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 5,506,580 shares of the real estate investment trust's stock valued at $489,370,000 after purchasing an additional 54,078 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its holdings in Crown Castle by 14.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 101,289 shares of the real estate investment trust's stock valued at $9,002,000 after purchasing an additional 12,610 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.
Analyst Ratings Changes
Several brokerages have weighed in on CCI. Citizens Jmp decreased their price objective on shares of Crown Castle from $125.00 to $120.00 and set a "market outperform" rating on the stock in a research note on Friday, July 24th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Crown Castle in a research note on Wednesday. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. BMO Capital Markets decreased their price target on Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a research report on Monday, July 20th. Finally, Barclays raised their price target on shares of Crown Castle from $91.00 to $92.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.13.
Read Our Latest Stock Report on Crown Castle
Insider Activity at Crown Castle
In related news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the sale, the vice president directly owned 5,113 shares in the company, valued at $388,025.57. This trade represents a 22.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by company insiders.
Crown Castle Stock Performance
CCI opened at $75.53 on Monday. The company has a fifty day moving average price of $77.86 and a two-hundred day moving average price of $84.10. The firm has a market capitalization of $32.13 billion, a PE ratio of 38.34, a P/E/G ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $104.61.
Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.17). Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.05 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm's revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities analysts forecast that Crown Castle Inc. will post 4.39 EPS for the current year.
Crown Castle Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. Crown Castle's dividend payout ratio is 215.74%.
Crown Castle Company Profile
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Free Report)
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.
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