Te Ahumairangi Investment Management Ltd Makes New $3.74 Million Investment in Crown Castle Inc. $CCI

Te Ahumairangi Investment Management Ltd bought a new stake in Crown Castle Inc. (NYSE:CCI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,423 shares of the real estate investment trust’s stock, valued at approximately $3,743,000.

A number of other hedge funds also recently modified their holdings of the business. Empowered Funds LLC raised its holdings in Crown Castle by 7.5% during the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after buying an additional 1,150 shares during the period. First Trust Advisors LP boosted its holdings in shares of Crown Castle by 6.9% in the second quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock valued at $9,000,000 after buying an additional 5,630 shares during the period. Baird Financial Group Inc. increased its position in shares of Crown Castle by 3.7% during the second quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock worth $786,000 after acquiring an additional 272 shares in the last quarter. Jump Financial LLC increased its position in shares of Crown Castle by 49.3% during the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock worth $1,121,000 after acquiring an additional 3,603 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Crown Castle by 5.6% during the second quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock worth $509,000 after acquiring an additional 261 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCI. Wolfe Research lowered Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Jefferies Financial Group dropped their target price on Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Barclays boosted their target price on Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Citizens Jmp lowered their price objective on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.13.

Insider Activity

In other news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares in the company, valued at approximately $388,025.57. The trade was a 22.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.09% of the stock is currently owned by insiders.

Crown Castle Trading Up 0.0%

NYSE CCI opened at $75.53 on Monday. The company has a market cap of $32.13 billion, a PE ratio of 38.34, a PEG ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61. The stock has a 50 day moving average of $77.86 and a 200-day moving average of $84.10.

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

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $1.0625 dividend. 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 currently 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.