First National Bank of Omaha bought a new position in shares of Crown Castle Inc. (NYSE:CCI – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund bought 131,044 shares of the real estate investment trust’s stock, valued at approximately $10,163,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC grew its holdings in shares of Crown Castle by 7.5% during the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares in the last quarter. First Trust Advisors LP lifted its holdings 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 acquiring an additional 5,630 shares during the period. Baird Financial Group Inc. lifted its holdings 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 acquiring an additional 272 shares during the period. Jump Financial LLC boosted its position in shares of Crown Castle by 49.3% during 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 in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Crown Castle by 5.6% during 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 in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently issued reports on CCI shares. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research note on Friday, June 26th. They issued a “neutral” rating and a $95.00 price objective on the stock. Truist Financial reduced their target price on Crown Castle from $95.00 to $87.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. dropped their price objective on Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Finally, TD Cowen reduced their price objective on Crown Castle from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.13.
Crown Castle Stock Performance
Shares of NYSE:CCI opened at $74.04 on Wednesday. The firm has a market cap of $31.50 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The firm’s fifty day moving average is $78.90 and its 200-day moving average is $84.34. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $104.61.
Crown Castle (NYSE:CCI – Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.17). The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 4.39 EPS for the current year.
Crown Castle Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s payout ratio is 215.74%.
Insider Buying and Selling at Crown Castle
In other news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the sale, the vice president owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.09% of the company’s stock.
Crown Castle Company 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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