Magellan Asset Management Ltd Invests $210.55 Million in Crown Castle Inc. $CCI

Magellan Asset Management Ltd bought a new position in Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,780,296 shares of the real estate investment trust’s stock, valued at approximately $210,552,000. Crown Castle makes up about 4.7% of Magellan Asset Management Ltd’s portfolio, making the stock its 4th biggest holding. Magellan Asset Management Ltd owned about 0.65% of Crown Castle at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Binnacle Investments Inc boosted its stake in shares of Crown Castle by 10.9% in the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 127 shares during the period. Front Row Advisors LLC grew its holdings in Crown Castle by 1.4% during the 1st quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 130 shares in the last quarter. Hilton Head Capital Partners LLC raised its position in shares of Crown Castle by 55.6% during the first 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 during the last quarter. CENTRAL TRUST Co lifted its holdings in shares of Crown Castle by 10.2% in the first quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust’s stock worth $121,000 after buying an additional 138 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of Crown Castle by 3.9% during the fourth quarter. Principal Securities Inc. now owns 3,754 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 142 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

CCI stock opened at $75.53 on Monday. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61. The firm’s 50-day moving average is $77.86 and its 200 day moving average is $84.10. The company has a market capitalization of $32.13 billion, a PE ratio of 38.34, a P/E/G ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last issued its 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 company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.05 million. Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The business’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 4.39 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued 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 payout ratio is presently 215.74%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CCI shares. Citigroup restated a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. BMO Capital Markets dropped their price target on Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Truist Financial cut their price target on Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a report on Tuesday, July 28th. Barclays lifted their price objective on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, Royal Bank Of Canada lowered their target price on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Two investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $95.13.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares in the company, valued at $388,025.57. This represents a 22.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is owned by insiders.

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.