Nomura Asset Management Co. Ltd. Boosts Holdings in Crown Castle Inc. $CCI

Nomura Asset Management Co. Ltd. grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,270 shares of the real estate investment trust’s stock after acquiring an additional 9,880 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Crown Castle were worth $15,026,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CCI. Vanguard Group Inc. increased its position in Crown Castle by 10.1% during the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the last quarter. Nuveen LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $305,876,000. Deutsche Bank AG grew its stake in shares of Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after buying an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Crown Castle by 144.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after buying an additional 2,028,718 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Crown Castle in the 1st quarter worth $149,661,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CCI shares. UBS Group upped their price target on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Friday, July 25th. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Wells Fargo & Company cut their price target on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. BMO Capital Markets reduced their price target on shares of Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Finally, Barclays dropped their price objective on shares of Crown Castle from $120.00 to $104.00 and set an “overweight” rating for the company in a research report on Monday. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.18.

Insiders Place Their Bets

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the sale, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Crown Castle Stock Up 0.0%

Shares of NYSE:CCI opened at $91.05 on Thursday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76. The company has a 50 day moving average of $94.36 and a two-hundred day moving average of $99.38. The company has a market capitalization of $39.65 billion, a price-to-earnings ratio of -8.57, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities analysts anticipate that Crown Castle Inc. will post 6.67 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, December 31st. Shareholders of record on Monday, December 15th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s dividend payout ratio is presently -39.98%.

Crown Castle Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.