Geode Capital Management LLC Purchases 184,533 Shares of Crown Castle Inc. $CCI

Geode Capital Management LLC raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 13,027,749 shares of the real estate investment trust’s stock after purchasing an additional 184,533 shares during the quarter. Geode Capital Management LLC’s holdings in Crown Castle were worth $1,156,972,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CCI. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Crown Castle by 591.8% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock worth $431,418,000 after purchasing an additional 3,824,778 shares during the last quarter. Principal Financial Group Inc. raised its position in Crown Castle by 422.5% during the 4th quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock worth $318,258,000 after purchasing an additional 2,895,756 shares during the last quarter. Invesco Ltd. raised its position in Crown Castle by 33.2% during the 3rd quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock worth $621,172,000 after purchasing an additional 1,605,291 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new position in Crown Castle during the 3rd quarter worth $121,726,000. Finally, Daiwa Securities Group Inc. raised its position in Crown Castle by 42.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,931,258 shares of the real estate investment trust’s stock worth $379,327,000 after purchasing an additional 1,168,132 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 0.5%

CCI stock opened at $91.56 on Friday. The stock has a 50-day moving average price of $86.68 and a 200-day moving average price of $87.69. Crown Castle Inc. has a 1-year low of $75.96 and a 1-year high of $115.76. The firm has a market cap of $39.96 billion, a PE ratio of 37.84, a price-to-earnings-growth ratio of 0.46 and a beta of 0.93.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.55. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.42 million. During the same period last year, the company posted $1.10 EPS. The business’s quarterly revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, analysts forecast that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $1.0625 dividend. The ex-dividend date is Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. Crown Castle’s dividend payout ratio (DPR) is currently 175.62%.

Analyst Upgrades and Downgrades

CCI has been the subject of several analyst reports. UBS Group lowered their target price on Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Jefferies Financial Group raised their target price on Crown Castle from $84.00 to $89.00 and gave the stock a “hold” rating in a research report on Tuesday, April 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $85.00 target price (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. Finally, Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $98.52.

Crown Castle Company Profile

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.