Legal & General Group Plc Takes Position in Crown Castle Inc. $CCI

Legal & General Group Plc purchased a new position in Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 6,033,243 shares of the real estate investment trust’s stock, valued at approximately $456,897,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Binnacle Investments Inc lifted its holdings in Crown Castle by 10.9% during the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 127 shares in the last quarter. Front Row Advisors LLC increased its stake 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 worth $757,000 after buying an additional 130 shares in the last quarter. Hilton Head Capital Partners LLC raised its holdings 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 acquiring an additional 134 shares during the last quarter. CENTRAL TRUST Co boosted its stake 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 acquiring an additional 138 shares during the last quarter. Finally, Principal Securities Inc. boosted its stake in shares of Crown Castle by 3.9% in 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. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction 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. This represents a 22.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.09% of the stock is currently owned by company insiders.

Crown Castle Price Performance

Shares of NYSE CCI opened at $76.25 on Wednesday. The company has a market capitalization of $32.44 billion, a P/E ratio of 38.71, a P/E/G ratio of 0.41 and a beta of 0.95. The company has a 50 day simple moving average of $77.38 and a 200-day simple moving average of $83.98. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $102.19.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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 business 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 company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. As a group, research analysts expect that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared 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 of this dividend is Tuesday, September 15th. Crown Castle’s dividend payout ratio is 215.74%.

Wall Street Analyst Weigh In

CCI has been the subject of several recent research reports. The Goldman Sachs Group started coverage on Crown Castle in a research note on Friday, June 26th. They issued a “neutral” rating and a $95.00 price objective for the company. BMO Capital Markets dropped their target price on shares of Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 20th. Jefferies Financial Group dropped their target price on shares of Crown Castle from $88.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Royal Bank Of Canada reduced their target price on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. 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, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus 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.