Invst LLC Purchases New Position in Crown Castle Inc. $CCI

Invst LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the second quarter, Holdings Channel.com reports. The firm purchased 9,518 shares of the real estate investment trust’s stock, valued at approximately $721,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jupiter Topco LLC purchased a new stake in shares of Crown Castle in the second quarter worth approximately $4,310,000. EFG International AG purchased a new position in shares of Crown Castle during the second quarter valued at approximately $2,057,000. Ancora Advisors LLC purchased a new position in shares of Crown Castle during the second quarter valued at approximately $139,000. Canada Pension Plan Investment Board bought a new stake in Crown Castle during the second quarter worth $172,925,000. Finally, Legal & General Group Plc bought a new stake in Crown Castle during the second quarter worth $456,897,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on CCI. The Goldman Sachs Group started coverage on Crown Castle in a research report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price target for the company. Citizens Jmp cut 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 report on Friday, July 24th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Wolfe Research downgraded shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Finally, Jefferies Financial Group dropped their price target on shares of Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.13.

Crown Castle Stock Down 0.2%

CCI stock opened at $76.25 on Wednesday. The firm has a market cap of $32.44 billion, a PE ratio of 38.71, a P/E/G ratio of 0.41 and a beta of 0.95. The business has a 50 day moving average of $77.38 and a 200-day moving average of $83.98. Crown Castle Inc. has a 12-month low of $69.72 and a 12-month high of $102.19.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.05 million. During the same quarter last year, the business posted $0.67 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, research analysts expect that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s payout ratio is presently 215.74%.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the sale, the vice president directly owned 5,113 shares in the company, valued at $388,025.57. The trade was a 22.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

About Crown Castle

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.