Capital World Investors Sells 348,581 Shares of Crown Castle Inc. $CCI

Capital World Investors reduced its position in Crown Castle Inc. (NYSE:CCIFree Report) by 11.6% during the fourth quarter, HoldingsChannel reports. The fund owned 2,652,184 shares of the real estate investment trust’s stock after selling 348,581 shares during the quarter. Capital World Investors’ holdings in Crown Castle were worth $235,700,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Crown Castle during the fourth quarter valued at about $594,670,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Crown Castle by 591.8% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock valued at $431,418,000 after buying an additional 3,824,778 shares during the period. Principal Financial Group Inc. increased its position in shares of Crown Castle by 422.5% during the fourth quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock valued at $318,258,000 after buying an additional 2,895,756 shares during the period. Invesco Ltd. increased its position in shares of 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 valued at $621,172,000 after buying an additional 1,605,291 shares during the period. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Crown Castle during the third quarter valued at about $121,726,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CCI shares. Wells Fargo & Company reiterated an “equal weight” rating and set a $85.00 price target (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Sanford C. Bernstein started coverage on Crown Castle in a research report on Thursday, March 5th. They set an “outperform” rating and a $102.00 price target on the stock. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. Finally, BMO Capital Markets boosted their price objective on Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Get Our Latest Research Report on CCI

Crown Castle Trading Down 2.8%

Shares of NYSE CCI opened at $91.82 on Tuesday. Crown Castle Inc. has a 12 month low of $75.96 and a 12 month high of $115.76. The firm has a market capitalization of $40.08 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 0.48 and a beta of 0.93. The business has a 50-day moving average of $88.03 and a 200-day moving average of $87.64.

Crown Castle (NYSE:CCIGet Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.42 million. During the same quarter in the previous year, the firm earned $1.10 earnings per share. Crown Castle’s 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. On average, analysts predict that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Dividend Announcement

The company 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 $1.0625 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 annualized dividend and a yield of 4.6%. Crown Castle’s dividend payout ratio is currently 175.62%.

Crown Castle Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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