Crown Castle Inc. $CCI Shares Purchased by AGF Management Ltd.

AGF Management Ltd. boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 30,294 shares of the real estate investment trust’s stock after purchasing an additional 1,145 shares during the period. AGF Management Ltd.’s holdings in Crown Castle were worth $3,112,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CCI. Vanguard Group Inc. raised its stake in Crown Castle by 10.1% during the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Crown Castle by 2.6% during the first quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock worth $2,229,260,000 after purchasing an additional 538,049 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Crown Castle by 1.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock worth $624,584,000 after purchasing an additional 72,511 shares during the period. Deutsche Bank AG grew its position in Crown Castle by 60.9% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Crown Castle by 1.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock valued at $543,264,000 after buying an additional 90,371 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Citigroup reduced their price objective on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the stock an “outperform” rating in a report on Wednesday, October 1st. BMO Capital Markets reduced their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a report on Friday, October 17th. KeyCorp lowered their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Finally, UBS Group raised their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Friday, July 25th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.12.

Crown Castle Price Performance

CCI stock opened at $89.54 on Monday. The company’s 50 day simple moving average is $95.03 and its 200-day simple moving average is $100.01. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The firm has a market capitalization of $38.99 billion, a PE ratio of -8.42, a P/E/G ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the firm earned $1.84 EPS. Crown Castle’s quarterly revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, December 15th. Crown Castle’s dividend payout ratio is -39.98%.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction dated Friday, October 24th. The shares were 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. The trade was a 31.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by corporate insiders.

About Crown Castle

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.