OLD National Bancorp IN Has $1.31 Million Position in Crown Castle Inc. $CCI

OLD National Bancorp IN cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 75.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,104 shares of the real estate investment trust’s stock after selling 50,437 shares during the quarter. OLD National Bancorp IN’s holdings in Crown Castle were worth $1,309,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Wiser Advisor Group LLC bought a new stake in shares of Crown Castle during the third quarter worth $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in shares of Crown Castle during the third quarter valued at about $31,000. Triumph Capital Management acquired a new stake in Crown Castle during the 3rd quarter worth approximately $31,000. Hilton Head Capital Partners LLC lifted its holdings in shares of Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 134 shares during the period. Finally, Salomon & Ludwin LLC lifted its holdings in Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 215 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on CCI. Sanford C. Bernstein initiated coverage on Crown Castle in a research report on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. BMO Capital Markets lifted their target price on Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Raymond James Financial boosted their price target on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Stock Up 3.8%

Shares of CCI opened at $82.58 on Friday. Crown Castle Inc. has a 12-month low of $75.96 and a 12-month high of $115.76. The business’s fifty day moving average is $88.61 and its 200 day moving average is $87.33. The stock has a market cap of $36.04 billion, a P/E ratio of 34.12, a P/E/G ratio of 0.42 and a beta of 0.93.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.41 million. During the same quarter in the previous year, the business posted $1.10 EPS. Crown Castle’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 expect that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, June 15th. Crown Castle’s dividend payout ratio is currently 175.62%.

Crown Castle 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.