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

Maryland State Retirement & Pension System boosted its stake in Crown Castle Inc. (NYSE:CCI) by 6.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 413,517 shares of the real estate investment trust’s stock after acquiring an additional 24,624 shares during the period. Crown Castle comprises approximately 0.9% of Maryland State Retirement & Pension System’s portfolio, making the stock its 19th largest position. Maryland State Retirement & Pension System owned approximately 0.09% of Crown Castle worth $42,481,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCI. Opal Wealth Advisors LLC purchased a new stake in Crown Castle in the first quarter valued at $26,000. Iron Horse Wealth Management LLC purchased a new stake in Crown Castle in the first quarter valued at $26,000. Centerpoint Advisors LLC purchased a new stake in Crown Castle in the first quarter valued at $26,000. Stone House Investment Management LLC purchased a new stake in Crown Castle in the first quarter valued at $27,000. Finally, Rise Advisors LLC purchased a new stake in Crown Castle in the first quarter valued at $28,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCI. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. UBS Group upped their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. Wells Fargo & Company raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $105.00 to $125.00 in a report on Thursday, July 24th. Wolfe Research raised shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a report on Monday, September 22nd. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. Three research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $115.76.

Crown Castle Trading Up 1.3%

Shares of CCI opened at $96.41 on Thursday. The firm’s 50-day moving average is $98.57 and its two-hundred day moving average is $100.93. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89. The firm has a market capitalization of $41.98 billion, a P/E ratio of -9.04, a PEG ratio of 0.72 and a beta of 0.95.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. Analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.4%. Crown Castle’s dividend payout ratio is currently -39.83%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.