Crown Castle Inc. $CCI Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 6.8% in the first quarter, Holdings Channel reports. The firm owned 829,727 shares of the real estate investment trust’s stock after selling 60,785 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Crown Castle were worth $67,465,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Crown Castle in the 4th quarter valued at about $594,670,000. Lazard Asset Management LLC increased its stake in Crown Castle by 124.2% during the 4th quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust’s stock worth $1,034,013,000 after buying an additional 6,445,237 shares in the last quarter. Cohen & Steers Inc. raised its holdings in shares of Crown Castle by 11.0% during the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock valued at $3,536,214,000 after acquiring an additional 3,953,685 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Crown Castle by 591.8% during 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 acquiring an additional 3,824,778 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Crown Castle by 422.5% in 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 acquiring an additional 2,895,756 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock traded up $2.95 during trading hours on Friday, reaching $79.63. The company had a trading volume of 5,364,182 shares, compared to its average volume of 4,317,920. Crown Castle Inc. has a 12-month low of $73.75 and a 12-month high of $115.76. The company has a market capitalization of $34.75 billion, a price-to-earnings ratio of 32.90, a PEG ratio of 0.40 and a beta of 0.95. The stock has a fifty day moving average of $86.73 and a 200-day moving average of $86.47.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.55. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm’s revenue was down 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, analysts forecast that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.3%. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Wells Fargo & Company reissued an “equal weight” rating and issued a $85.00 price objective (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Barclays raised their price objective on Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Jefferies Financial Group upped their target price on shares of Crown Castle from $84.00 to $89.00 and gave the stock a “hold” rating in a report on Tuesday, April 14th. Finally, The Goldman Sachs Group began coverage on shares of Crown Castle in a research report on Friday, June 26th. They issued a “neutral” rating and a $95.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.52.

Crown Castle Company 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.