Crown Castle Inc. $CCI Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in Crown Castle Inc. by 2.6%, owning approximately 21.4 million shares worth about $2.23 billion as of the end of the first quarter.
• Analysts are optimistic about Crown Castle, with price targets from firms like JPMorgan and Citigroup indicating potential upside in stock value, currently rated a "Moderate Buy."
• Crown Castle declared a quarterly dividend of $1.0625, maintaining a 4.2% yield, with a payout ratio currently at -39.83%.

Wellington Management Group LLP lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,387,895 shares of the real estate investment trust's stock after buying an additional 538,049 shares during the period. Wellington Management Group LLP owned approximately 4.91% of Crown Castle worth $2,229,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCI. Vanguard Group Inc. boosted its stake in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after buying an additional 6,341,150 shares during the last quarter. Nuveen LLC bought a new stake in shares of Crown Castle in the 1st quarter worth approximately $305,876,000. Deutsche Bank AG raised its holdings in shares of Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Crown Castle by 107.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,730,309 shares of the real estate investment trust's stock worth $284,580,000 after purchasing an additional 1,412,992 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Crown Castle by 575.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,285,972 shares of the real estate investment trust's stock worth $134,037,000 after purchasing an additional 1,095,455 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.8%

CCI traded up $0.8630 on Friday, reaching $103.6630. The stock had a trading volume of 2,387,598 shares, compared to its average volume of 3,229,553. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The business's 50-day moving average price is $103.76 and its two-hundred day moving average price is $100.55. The company has a market cap of $45.14 billion, a P/E ratio of -9.72, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89.

Crown Castle (NYSE:CCI - Get Free Report) last released its 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 net margin of 85.54% and a negative return on equity of 619.62%. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The company's quarterly revenue was down 4.2% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

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 paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.1%. 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 equities research analysts recently commented on the stock. KeyCorp lifted their price target on shares of Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Citigroup boosted their target price on shares of Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a report on Monday, May 5th. Scotiabank boosted their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a report on Friday, July 25th. Barclays lowered their target price on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating on the stock in a report on Monday. Finally, JMP Securities reissued a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and an average 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.