Maryland State Retirement & Pension System Has $41.03 Million Stake in Crown Castle Inc. $CCI

Maryland State Retirement & Pension System increased its position in Crown Castle Inc. (NYSE:CCI) by 2.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 425,178 shares of the real estate investment trust’s stock after purchasing an additional 11,661 shares during the period. Crown Castle makes up 0.9% of Maryland State Retirement & Pension System’s investment portfolio, making the stock its 23rd largest holding. Maryland State Retirement & Pension System’s holdings in Crown Castle were worth $41,025,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Winnow Wealth LLC bought a new stake in shares of Crown Castle during the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in Crown Castle during the 2nd quarter valued at about $27,000. NewSquare Capital LLC increased its holdings in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after purchasing an additional 120 shares in the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Crown Castle by 511.3% in the second quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the sale, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.10% of the stock is owned by insiders.

Crown Castle Trading Up 0.6%

Shares of CCI stock opened at $90.94 on Friday. The firm’s 50 day moving average is $89.08 and its 200 day moving average is $95.73. The stock has a market capitalization of $39.60 billion, a P/E ratio of -8.56, a PEG ratio of 0.58 and a beta of 0.96. Crown Castle Inc. has a 12 month low of $83.21 and a 12 month high of $115.76.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio is -39.98%.

Wall Street Analysts Forecast Growth

CCI has been the topic of several analyst reports. BMO Capital Markets cut their target price on Crown Castle from $107.00 to $97.00 and set an “outperform” rating on the stock in a research report on Friday, January 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Crown Castle in a research note on Monday, December 29th. Raymond James Financial cut their price target on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a report on Thursday, October 23rd. The Goldman Sachs Group reiterated a “neutral” rating on shares of Crown Castle in a research note on Friday. Finally, UBS Group restated a “buy” rating and issued a $127.00 target price on shares of Crown Castle in a research note on Wednesday, December 10th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $108.39.

About Crown Castle

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.