Strs Ohio Has $31.09 Million Holdings in Crown Castle Inc. $CCI

Strs Ohio boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 83.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 302,670 shares of the real estate investment trust’s stock after acquiring an additional 137,670 shares during the quarter. Strs Ohio’s holdings in Crown Castle were worth $31,093,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Assetmark Inc. lifted its stake in shares of Crown Castle by 9.8% in the second quarter. Assetmark Inc. now owns 22,912 shares of the real estate investment trust’s stock worth $2,354,000 after acquiring an additional 2,037 shares during the period. HBK Sorce Advisory LLC increased its holdings in Crown Castle by 7.5% in the second quarter. HBK Sorce Advisory LLC now owns 2,951 shares of the real estate investment trust’s stock worth $303,000 after purchasing an additional 205 shares in the last quarter. Premier Path Wealth Partners LLC increased its holdings in Crown Castle by 27.0% in the second quarter. Premier Path Wealth Partners LLC now owns 4,147 shares of the real estate investment trust’s stock worth $426,000 after purchasing an additional 881 shares in the last quarter. Daymark Wealth Partners LLC bought a new stake in shares of Crown Castle during the second quarter valued at approximately $230,000. Finally, New York Life Investment Management LLC increased its holdings in shares of Crown Castle by 1.4% during the second quarter. New York Life Investment Management LLC now owns 65,221 shares of the real estate investment trust’s stock valued at $6,700,000 after acquiring an additional 922 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CCI. Barclays upped their price target on Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Wells Fargo & Company decreased their price target on Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 20th. The Goldman Sachs Group upped their price target on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. JMP Securities reiterated a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Crown Castle in a report on Thursday. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and an average target price of $113.12.

Crown Castle Stock Down 1.1%

Shares of NYSE CCI opened at $91.30 on Friday. The firm has a market capitalization of $39.76 billion, a P/E ratio of -8.59, a P/E/G ratio of 0.68 and a beta of 0.95. The stock’s 50-day simple moving average is $96.39 and its two-hundred day simple moving average is $100.57. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76.

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

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.7%. Crown Castle’s dividend payout ratio is currently -39.98%.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the completion of the sale, the executive vice president owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

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.