Cibc World Market Inc. Buys 45,641 Shares of Crown Castle Inc. $CCI

Cibc World Market Inc. boosted its position in Crown Castle Inc. (NYSE:CCI) by 18.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 294,286 shares of the real estate investment trust’s stock after acquiring an additional 45,641 shares during the quarter. Cibc World Market Inc.’s holdings in Crown Castle were worth $26,153,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Crown Castle in the 4th quarter valued at about $594,670,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Crown Castle by 591.8% in the third 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 in the last quarter. Principal Financial Group Inc. boosted its position in shares of Crown Castle by 422.5% during the fourth 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 buying an additional 2,895,756 shares during the last quarter. Invesco Ltd. boosted its position in shares of Crown Castle by 33.2% during the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after buying an additional 1,605,291 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in Crown Castle during the third quarter worth $121,726,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Crown Castle stock opened at $93.79 on Friday. The business has a fifty day moving average price of $87.41 and a 200-day moving average price of $87.61. Crown Castle Inc. has a one year low of $75.96 and a one year high of $115.76. The firm has a market capitalization of $40.94 billion, a P/E ratio of 38.76, a PEG ratio of 0.45 and a beta of 0.93.

Crown Castle (NYSE:CCI) last posted its 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. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. During the same period in the previous year, the business earned $1.10 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Sell-side analysts expect that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle’s dividend payout ratio (DPR) is presently 175.62%.

Analyst Ratings Changes

Several equities analysts have weighed in on CCI shares. BMO Capital Markets raised their price objective on Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. The Goldman Sachs Group dropped their price target on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $85.00 price objective (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Finally, Barclays increased their price objective on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.52.

Crown Castle 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.