Crown Castle Inc. $CCI Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 4.2% in the 1st quarter, HoldingsChannel reports. The firm owned 414,177 shares of the real estate investment trust’s stock after selling 18,007 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Crown Castle were worth $33,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bryn Mawr Trust Advisors LLC boosted its holdings in Crown Castle by 3.5% in the first quarter. Bryn Mawr Trust Advisors LLC now owns 8,363 shares of the real estate investment trust’s stock valued at $680,000 after purchasing an additional 283 shares during the last quarter. Integrity Wealth Solutions LLC acquired a new stake in Crown Castle during the 1st quarter worth about $203,000. Principal Financial Group Inc. raised its stake in shares of Crown Castle by 3.8% during the 1st quarter. Principal Financial Group Inc. now owns 3,716,075 shares of the real estate investment trust’s stock valued at $302,158,000 after buying an additional 134,921 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of Crown Castle by 17.3% during the 1st quarter. Y.D. More Investments Ltd now owns 1,337 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 197 shares during the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Crown Castle during the 1st quarter valued at about $575,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 0.9%

CCI stock opened at $79.10 on Wednesday. Crown Castle Inc. has a 52-week low of $73.75 and a 52-week high of $115.76. The firm has a market cap of $34.52 billion, a P/E ratio of 32.69, a PEG ratio of 0.40 and a beta of 0.95. The company’s 50-day simple moving average is $86.35 and its 200-day simple moving average is $86.35.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.55. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.Crown Castle’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, analysts anticipate that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 of this dividend was Monday, June 15th. Crown Castle’s dividend payout ratio (DPR) is presently 175.62%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Raymond James Financial upped their target price on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 23rd. The Goldman Sachs Group began coverage on Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 price target for the company. KeyCorp boosted their price target on Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Jefferies Financial Group raised their price objective on shares of Crown Castle from $84.00 to $89.00 and gave the stock a “hold” rating in a research note on Tuesday, April 14th. Finally, BMO Capital Markets raised their price objective on shares of Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Two 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.com, Crown Castle has an average rating of “Moderate Buy” and an average price target of $98.52.

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.