Geode Capital Management LLC grew its position in Crown Castle Inc. (NYSE:CCI – Free Report) by 1.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,027,749 shares of the real estate investment trust’s stock after purchasing an additional 184,533 shares during the quarter. Geode Capital Management LLC owned about 2.99% of Crown Castle worth $1,156,972,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in CCI. Vanguard Group Inc. grew its position in Crown Castle by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock worth $6,200,406,000 after buying an additional 386,733 shares in the last quarter. State Street Corp grew its position in Crown Castle by 1.2% during the third quarter. State Street Corp now owns 21,728,541 shares of the real estate investment trust’s stock worth $2,096,587,000 after buying an additional 266,963 shares in the last quarter. Invesco Ltd. grew its position in Crown Castle by 33.2% during the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock worth $621,172,000 after buying an additional 1,605,291 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Crown Castle by 3.0% during the third quarter. Dimensional Fund Advisors LP now owns 6,185,915 shares of the real estate investment trust’s stock worth $596,876,000 after buying an additional 177,896 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Crown Castle by 7.2% during the fourth quarter. Legal & General Group Plc now owns 6,025,433 shares of the real estate investment trust’s stock worth $535,480,000 after buying an additional 403,943 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on CCI. Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. Citigroup reduced their price target on Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Zacks Research raised Crown Castle from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, KeyCorp increased their price target on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and an average price target of $98.52.
Crown Castle Price Performance
NYSE CCI opened at $91.56 on Friday. The business has a fifty day moving average price of $86.68 and a two-hundred day moving average price of $87.69. Crown Castle Inc. has a fifty-two week low of $75.96 and a fifty-two week high of $115.76. The stock has a market capitalization of $39.96 billion, a PE ratio of 37.84, a PEG ratio of 0.46 and a beta of 0.93.
Crown Castle (NYSE:CCI – Get Free Report) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.55. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. During the same period in the prior year, the company earned $1.10 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, sell-side analysts expect that Crown Castle Inc. will post 4.22 earnings per share for the current year.
Crown Castle Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.0625 per share. The ex-dividend date is Monday, June 15th. This represents a $4.25 annualized dividend and a yield of 4.6%. Crown Castle’s dividend payout ratio is presently 175.62%.
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.
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