Financiere des Professionnels Fonds d investissement inc. Makes New Investment in Crown Castle Inc. $CCI

Financiere des Professionnels Fonds d investissement inc. purchased a new position in Crown Castle Inc. (NYSE:CCIFree Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 18,400 shares of the real estate investment trust’s stock, valued at approximately $1,496,000.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC grew its position in Crown Castle by 7.5% in the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after buying an additional 1,150 shares in the last quarter. First Trust Advisors LP raised its position in shares of Crown Castle by 6.9% during the 2nd quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock worth $9,000,000 after buying an additional 5,630 shares in the last quarter. Baird Financial Group Inc. raised its position in shares of Crown Castle by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock worth $786,000 after buying an additional 272 shares in the last quarter. Jump Financial LLC lifted its stake in shares of Crown Castle by 49.3% in the 2nd quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock worth $1,121,000 after acquiring an additional 3,603 shares during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Crown Castle by 5.6% in the 2nd quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock worth $509,000 after acquiring an additional 261 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 0.7%

Shares of NYSE CCI opened at $79.24 on Friday. Crown Castle Inc. has a one year low of $73.75 and a one year high of $115.76. The firm has a market capitalization of $34.59 billion, a PE ratio of 32.75, a PEG ratio of 0.40 and a beta of 0.95. The business has a 50-day moving average price of $85.66 and a two-hundred day moving average price of $86.18.

Crown Castle (NYSE:CCIGet Free Report) last issued its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Research analysts anticipate that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.4%. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

Analysts Set New Price Targets

A number of research firms recently commented on CCI. Scotiabank lowered their price objective on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a research note on Tuesday, April 7th. Truist Financial began coverage on Crown Castle in a research report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 target price for the company. Jefferies Financial Group increased their price target on Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research note on Tuesday, April 14th. The Goldman Sachs Group began coverage on Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 price target on the stock. Finally, Raymond James Financial boosted their price objective on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.52.

View Our Latest Stock Report on Crown Castle

About Crown Castle

(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.

Further Reading

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

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