OMERS ADMINISTRATION Corp Invests $1.79 Million in Crown Castle Inc. $CCI

OMERS ADMINISTRATION Corp acquired a new position in Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, Holdings Channel reports. The firm acquired 23,645 shares of the real estate investment trust’s stock, valued at approximately $1,791,000.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC raised its stake in shares of Crown Castle by 7.5% during the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 1,150 shares during the period. First Trust Advisors LP lifted its position in shares of Crown Castle by 6.9% during the second quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock worth $9,000,000 after purchasing an additional 5,630 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Crown Castle by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock worth $786,000 after buying an additional 272 shares during the last quarter. Jump Financial LLC lifted its stake in Crown Castle by 49.3% during the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock worth $1,121,000 after purchasing an additional 3,603 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of Crown Castle by 5.6% in the 2nd quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 261 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares of the company’s stock, valued at $388,025.57. This represents a 22.68% decrease in their ownership of the stock. 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 company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CCI. Jefferies Financial Group cut their price target on Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a research note on Friday, July 24th. JPMorgan Chase & Co. decreased their target price on Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. BMO Capital Markets reduced their target price on shares of Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 20th. Finally, TD Cowen dropped their price target on Crown Castle from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.13.

Crown Castle Price Performance

Crown Castle stock opened at $75.62 on Thursday. Crown Castle Inc. has a one year low of $69.72 and a one year high of $102.19. The company’s fifty day moving average price is $77.17 and its two-hundred day moving average price is $83.96. The company has a market capitalization of $32.17 billion, a price-to-earnings ratio of 38.39, a PEG ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.17). The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.Crown Castle’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

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

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.