Crown Castle Inc. $CCI Shares Acquired by Saudi Central Bank

Saudi Central Bank lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 89.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,525 shares of the real estate investment trust’s stock after acquiring an additional 14,451 shares during the period. Saudi Central Bank’s holdings in Crown Castle were worth $2,312,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC acquired a new stake in Crown Castle during the third quarter worth approximately $29,000. Pingora Partners LLC acquired a new position in shares of Crown Castle in the 2nd quarter valued at $30,000. Hilton Head Capital Partners LLC boosted its holdings in shares of Crown Castle by 55.6% in the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 134 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Crown Castle in the 3rd quarter valued at $31,000. Finally, Global Assets Advisory LLC purchased a new position in shares of Crown Castle in the 1st quarter valued at $32,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown Castle

In other news, VP Robert Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the sale, the vice president owned 5,113 shares of the company’s stock, valued at $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.09% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCI. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Jefferies Financial Group dropped their price objective on Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Citigroup reiterated a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. TD Cowen reduced their target price on Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $95.13.

Crown Castle Trading Down 0.1%

NYSE:CCI opened at $75.75 on Tuesday. Crown Castle Inc. has a 12-month low of $69.72 and a 12-month high of $100.50. The stock’s 50 day simple moving average is $76.23 and its 200-day simple moving average is $83.33. The firm has a market cap of $32.23 billion, a P/E ratio of 38.45, a PEG ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.17). Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.05 million. During the same period in the prior year, the business earned $0.67 earnings per share. Crown Castle’s revenue for the quarter was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Research analysts forecast that Crown Castle Inc. will post 4.39 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s dividend payout ratio (DPR) is 215.74%.

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.