State of New Jersey Common Pension Fund D Has $14.68 Million Holdings in Crown Castle Inc. $CCI

State of New Jersey Common Pension Fund D grew its stake in Crown Castle Inc. (NYSE:CCI) by 0.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,936 shares of the real estate investment trust’s stock after buying an additional 629 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Crown Castle were worth $14,684,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Crown Castle by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Crown Castle by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock worth $2,229,260,000 after purchasing an additional 538,049 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Crown Castle by 1.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock worth $624,584,000 after purchasing an additional 72,511 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Crown Castle by 1.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock worth $543,264,000 after purchasing an additional 90,371 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Monday, October 20th. Scotiabank boosted their price objective on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. KeyCorp cut their price objective on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. BMO Capital Markets lowered their price target on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $113.12.

Crown Castle Stock Up 0.3%

Shares of CCI opened at $98.58 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $115.76. The firm has a market capitalization of $42.93 billion, a price-to-earnings ratio of -9.27, a P/E/G ratio of 0.74 and a beta of 0.95. The stock’s 50-day moving average price is $97.03 and its 200 day moving average price is $100.62.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company posted $1.84 EPS. The company’s revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Equities research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio is currently -39.98%.

Crown Castle Company Profile

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.