Wealthfront Advisers LLC Takes $6.54 Million Position in Crown Castle Inc. $CCI

Wealthfront Advisers LLC purchased a new position in Crown Castle Inc. (NYSE:CCI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 86,394 shares of the real estate investment trust’s stock, valued at approximately $6,543,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Crown Castle by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock valued at $6,200,406,000 after buying an additional 386,733 shares during the period. BlackRock Inc. purchased a new position in shares of Crown Castle during the second quarter worth approximately $3,326,154,000. Cohen & Steers Inc. increased its position in shares of Crown Castle by 11.0% during the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after acquiring an additional 3,953,685 shares during the period. State Street Corp raised its stake in shares of Crown Castle by 2.4% during the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock valued at $1,976,430,000 after acquiring an additional 511,018 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Crown Castle by 2.8% during the fourth quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock valued at $1,243,012,000 after acquiring an additional 380,419 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, VP Robert Sean Collins sold 1,500 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was 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 directly owned 5,113 shares in the company, valued at $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.09% of the company’s stock.

Crown Castle Stock Up 0.9%

Shares of NYSE:CCI opened at $74.66 on Thursday. The company has a market capitalization of $31.77 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $104.61. The firm has a 50 day moving average of $78.52 and a 200 day moving average of $84.25.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.17). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.05 million. During the same period in the previous year, the company posted $0.67 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 4.530-4.650 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 5.7%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s payout ratio is presently 215.74%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCI. The Goldman Sachs Group started coverage on Crown Castle in a research note on Friday, June 26th. They issued a “neutral” rating and a $95.00 price objective on the stock. Royal Bank Of Canada decreased their target price on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. TD Cowen lowered their target price on Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. JPMorgan Chase & Co. dropped their price target on Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. Finally, Citizens Jmp cut their price target on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.13.

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.