Crown Castle Inc. $CCI Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 3.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,716,075 shares of the real estate investment trust’s stock after acquiring an additional 134,921 shares during the quarter. Principal Financial Group Inc. owned about 0.85% of Crown Castle worth $302,158,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. United Asset Strategies Inc. boosted its stake in shares of Crown Castle by 2.5% during the 4th quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 120 shares in the last quarter. Binnacle Investments Inc raised its holdings in Crown Castle by 10.9% during the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 127 shares during the last quarter. Applied Capital LLC FL boosted its position in Crown Castle by 0.9% during the fourth quarter. Applied Capital LLC FL now owns 15,269 shares of the real estate investment trust’s stock worth $1,357,000 after purchasing an additional 132 shares in the last quarter. Hilton Head Capital Partners LLC grew its holdings in Crown Castle by 55.6% in the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 134 shares during the last quarter. Finally, CENTRAL TRUST Co raised its stake in shares of Crown Castle by 10.2% during the 1st quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 138 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the subject of a number of research reports. Scotiabank cut their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 7th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $85.00 price objective (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Jefferies Financial Group increased their price objective on shares of Crown Castle from $84.00 to $89.00 and gave the stock a “hold” rating in a report on Tuesday, April 14th. KeyCorp lifted their price target on shares of Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Finally, Truist Financial assumed coverage on shares of Crown Castle in a research note on Tuesday, March 31st. They set a “hold” rating and a $90.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $98.52.

Crown Castle Stock Down 0.9%

Shares of CCI stock opened at $79.10 on Wednesday. Crown Castle Inc. has a fifty-two week low of $73.75 and a fifty-two week high of $115.76. The firm’s 50 day moving average price is $86.35 and its two-hundred day moving average price is $86.35. The stock has a market cap of $34.52 billion, a price-to-earnings ratio of 32.69, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.41 million. During the same quarter in the prior year, the business earned $1.10 earnings per share. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 4.22 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 5.4%. The ex-dividend date was 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.