71,365 Shares in Crown Castle Inc. $CCI Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. bought a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 71,365 shares of the real estate investment trust’s stock, valued at approximately $5,611,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Crown Castle in the 2nd quarter worth approximately $3,326,154,000. Norges Bank acquired a new position in Crown Castle during the fourth quarter valued at approximately $594,670,000. Lazard Asset Management LLC raised its position in shares of Crown Castle by 124.2% in the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust’s stock valued at $1,034,013,000 after purchasing an additional 6,445,237 shares during the period. Legal & General Group Plc acquired a new stake in shares of Crown Castle in the second quarter worth $456,897,000. Finally, Deutsche Bank AG acquired a new stake in shares of Crown Castle in the second quarter worth $429,341,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In related news, VP Robert Sean 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 value of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $76.09 on Friday. The business has a 50-day moving average of $76.91 and a two-hundred day moving average of $83.86. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $100.50. The company has a market capitalization of $32.37 billion, a P/E ratio of 38.62, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.17). The company had revenue of $1.01 billion during 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%.Crown Castle’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. On average, equities analysts anticipate that Crown Castle Inc. will post 4.39 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 annualized dividend and a yield of 5.6%. Crown Castle’s dividend payout ratio is presently 215.74%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price objective 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. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Wolfe Research cut shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and an average target price of $95.13.

About Crown Castle

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.