23,645 Shares in Crown Castle Inc. $CCI Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp acquired a new position in Crown Castle Inc. (NYSE:CCIFree Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 23,645 shares of the real estate investment trust’s stock, valued at approximately $1,791,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of 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 purchasing an additional 1,150 shares during the last quarter. First Trust Advisors LP increased 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 valued at $9,000,000 after purchasing an additional 5,630 shares in the last quarter. Baird Financial Group Inc. boosted its stake 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 in the last quarter. Jump Financial LLC grew its holdings in Crown Castle by 49.3% in the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock valued at $1,121,000 after purchasing an additional 3,603 shares during the period. Finally, Federated Hermes Inc. increased its holdings in 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 in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction on 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 $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

Analyst Ratings Changes

CCI has been the subject of several research reports. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Barclays raised their price target on shares of Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Truist Financial lowered their price objective on shares of Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Citizens Jmp dropped their price target on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a research note on Friday, July 24th. Finally, TD Cowen lowered their target price on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.13.

View Our Latest Stock Report on CCI

Crown Castle Price Performance

Shares of NYSE:CCI opened at $75.62 on Thursday. The firm has a market capitalization of $32.17 billion, a price-to-earnings ratio of 38.39, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $102.19. The business’s 50 day simple moving average is $77.17 and its 200-day simple moving average is $83.96.

Crown Castle (NYSE:CCIGet Free Report) last posted its earnings results 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). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.05 million. During the same quarter last year, the business posted $0.67 earnings per share. The business’s revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, equities analysts anticipate that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle’s dividend payout ratio is presently 215.74%.

Crown Castle 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.

Further Reading

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

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