Crown Castle Inc. $CCI Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its stake in Crown Castle Inc. (NYSE:CCI) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 142,936 shares of the real estate investment trust’s stock after acquiring an additional 629 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Crown Castle were worth $14,684,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CCI. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after acquiring an additional 6,341,150 shares during the last quarter. Nuveen LLC acquired a new position in shares of Crown Castle in the 1st quarter worth $305,876,000. Deutsche Bank AG grew its holdings in shares of Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after acquiring an additional 2,072,198 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Crown Castle by 144.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after acquiring an additional 2,028,718 shares during the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in shares of Crown Castle during the first quarter valued at $149,661,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. Citigroup lowered their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Scotiabank lifted their price target on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Wolfe Research upgraded Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a report on Monday, September 22nd. KeyCorp lowered their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Finally, Wells Fargo & Company lowered their price target on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $113.12.

Crown Castle Trading Up 0.3%

CCI opened at $98.58 on Friday. The stock has a market cap of $42.93 billion, a price-to-earnings ratio of -9.27, a PEG ratio of 0.74 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $115.76. The stock has a fifty day moving average price of $97.03 and a 200 day moving average price of $100.62.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.3%. Crown Castle’s payout ratio is currently -39.98%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.