UniSuper Management Pty Ltd Grows Stock Holdings in Crown Castle Inc. $CCI

Key Points

• UniSuper Management Pty Ltd increased its stake in Crown Castle Inc. by 67.9%, owning 420,180 shares valued at approximately $43,795,000 after purchasing 169,901 additional shares.
• Crown Castle reported a Q2 EPS of $1.02, beating expectations and generating revenue of $1.06 billion, although it experienced a 4.2% decline compared to the previous year.
• The company announced a quarterly dividend of $1.0625 per share with a yield of 4.4%, payable on September 30 to shareholders of record.

UniSuper Management Pty Ltd grew its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 67.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 420,180 shares of the real estate investment trust's stock after purchasing an additional 169,901 shares during the period. UniSuper Management Pty Ltd owned about 0.10% of Crown Castle worth $43,795,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCI. Baird Financial Group Inc. increased its holdings in Crown Castle by 2.3% during the 4th quarter. Baird Financial Group Inc. now owns 34,476 shares of the real estate investment trust's stock worth $3,129,000 after purchasing an additional 764 shares in the last quarter. Crestline Management LP bought a new position in shares of Crown Castle in the fourth quarter valued at approximately $295,000. Cresset Asset Management LLC grew its holdings in shares of Crown Castle by 88.7% in the fourth quarter. Cresset Asset Management LLC now owns 10,725 shares of the real estate investment trust's stock valued at $973,000 after acquiring an additional 5,040 shares in the last quarter. Jefferies Financial Group Inc. grew its holdings in shares of Crown Castle by 13,717.8% in the fourth quarter. Jefferies Financial Group Inc. now owns 480,030 shares of the real estate investment trust's stock valued at $43,568,000 after acquiring an additional 476,556 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Crown Castle by 3.8% in the fourth quarter. Janus Henderson Group PLC now owns 64,672 shares of the real estate investment trust's stock valued at $5,869,000 after acquiring an additional 2,396 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI traded up $0.04 during trading on Friday, hitting $95.62. 888,513 shares of the company were exchanged, compared to its average volume of 3,298,477. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock has a 50 day moving average of $102.82 and a 200 day moving average of $101.37. The company has a market cap of $41.64 billion, a PE ratio of -8.96, a P/E/G ratio of 0.71 and a beta of 0.92.

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 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $1.04 billion. During the same period last year, the company earned $1.62 earnings per share. The business's revenue for the quarter was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal 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 $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. KeyCorp upped their target price on Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Scotiabank upped their target price on Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. UBS Group upped their target price on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and issued a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Three 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 company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price 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.