Crown Castle Inc. (NYSE:CCI – Get Free Report)’s stock price gapped up before the market opened on Friday. The stock had previously closed at $68.89, but opened at $74.32. Crown Castle shares last traded at $76.2840, with a volume of 2,035,627 shares changing hands.
Analyst Ratings Changes
Several brokerages have issued reports on CCI. Barclays boosted their target price on Crown Castle from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. Truist Financial decreased their target price on Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Royal Bank Of Canada cut their price target on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Finally, BMO Capital Markets decreased their price objective on shares of Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $94.07.
Crown Castle Trading Up 13.0%
Crown Castle (NYSE:CCI – Get Free Report) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.18. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.67 EPS. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. As a group, analysts predict that Crown Castle Inc. will post 4.38 earnings per share for the current year.
Crown Castle Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Tuesday, September 15th. Crown Castle’s dividend payout ratio is 215.74%.
Insider Buying and Selling at Crown Castle
In related news, VP Robert Collins sold 1,500 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares of the company’s stock, valued at $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.
Institutional Investors Weigh In On Crown Castle
Several hedge funds have recently added to or reduced their stakes in the business. Cohen & Steers Inc. grew its position in Crown Castle by 11.0% during the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after purchasing an additional 3,953,685 shares during the period. BlackRock Inc. purchased a new stake in shares of Crown Castle in the second quarter worth about $3,326,154,000. State Street Corp grew its holdings in Crown Castle by 0.9% during the second quarter. State Street Corp now owns 23,023,394 shares of the real estate investment trust’s stock worth $1,743,562,000 after acquiring an additional 211,633 shares during the period. Lazard Asset Management LLC grew its holdings in Crown Castle by 15.7% during the first quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust’s stock worth $1,094,691,000 after acquiring an additional 1,828,065 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Crown Castle by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,325,747 shares of the real estate investment trust’s stock valued at $514,320,000 after acquiring an additional 144,538 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.
Crown Castle Company Profile
Crown Castle Inc (NYSE: CCI) is a communications infrastructure company that owns, operates and leases wireless communications assets in the United States. Its infrastructure helps wireless carriers, government agencies and other customers expand network coverage and capacity for voice, data and other wireless services.
The company’s portfolio includes cell towers and fiber-based infrastructure. Crown Castle provides space on its towers for wireless equipment and offers fiber solutions that support small-cell networks, distributed antenna systems and other high-capacity communications applications.
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