Maryland State Retirement & Pension System boosted its stake in Crown Castle Inc. (NYSE:CCI – Free Report) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 432,184 shares of the real estate investment trust’s stock after purchasing an additional 7,006 shares during the period. Crown Castle comprises approximately 0.8% of Maryland State Retirement & Pension System’s portfolio, making the stock its 25th largest position. Maryland State Retirement & Pension System’s holdings in Crown Castle were worth $38,408,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in CCI. Norges Bank acquired a new stake in Crown Castle in the 4th quarter valued at approximately $594,670,000. Cohen & Steers Inc. increased its holdings in Crown Castle by 11.0% in the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock valued at $3,536,214,000 after purchasing an additional 3,953,685 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Crown Castle by 591.8% in the 3rd 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 purchasing an additional 3,824,778 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Crown Castle by 422.5% in the 4th 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 purchasing an additional 2,895,756 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Crown Castle by 121.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,610,319 shares of the real estate investment trust’s stock valued at $409,719,000 after purchasing an additional 2,529,843 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.
Analyst Ratings Changes
Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Sanford C. Bernstein assumed coverage on shares of Crown Castle in a report on Thursday, March 5th. They issued an “outperform” rating and a $102.00 target price for the company. Scotiabank dropped their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a report on Tuesday, April 7th. Wolfe Research cut shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $85.00 price target (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Two 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.52.
Crown Castle Stock Down 0.7%
NYSE:CCI opened at $88.13 on Wednesday. The company has a fifty day simple moving average of $89.16 and a two-hundred day simple moving average of $87.69. The company has a market cap of $38.46 billion, a price-to-earnings ratio of 36.42, a price-to-earnings-growth ratio of 0.45 and a beta of 0.93. Crown Castle Inc. has a 52 week low of $75.96 and a 52 week high of $115.76.
Crown Castle (NYSE:CCI – Get Free Report) last posted its quarterly earnings results 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. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, analysts expect that Crown Castle Inc. will post 4.22 EPS for the current year.
Crown Castle Announces Dividend
The firm also recently declared 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 is Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.8%. Crown Castle’s payout ratio is 175.62%.
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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