Crown Castle Inc. $CCI Holdings Increased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. increased its stake in Crown Castle Inc. (NYSE:CCI) by 2.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 74,006 shares of the real estate investment trust’s stock after acquiring an additional 1,558 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Crown Castle were worth $7,554,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in Crown Castle by 10.1% in the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after purchasing an additional 6,341,150 shares during the period. Wellington Management Group LLP increased its position in shares of Crown Castle by 2.6% during the 1st quarter. Wellington Management Group LLP now owns 21,387,895 shares of the real estate investment trust’s stock valued at $2,229,260,000 after purchasing an additional 538,049 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Crown Castle by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,992,402 shares of the real estate investment trust’s stock worth $624,584,000 after buying an additional 72,511 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Crown Castle by 60.9% in the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock valued at $570,443,000 after buying an additional 2,072,198 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Crown Castle by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 5,212,165 shares of the real estate investment trust’s stock valued at $543,264,000 after buying an additional 90,371 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE CCI opened at $89.54 on Friday. The firm’s 50 day moving average price is $95.03 and its two-hundred day moving average price is $100.03. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76. The stock has a market cap of $38.99 billion, a price-to-earnings ratio of -8.42, a PEG ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last released its earnings results 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. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the company earned $1.84 earnings per share. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s payout ratio is -39.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. KeyCorp dropped their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Wells Fargo & Company dropped their target price on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Monday, October 20th. Raymond James Financial reduced their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a report on Thursday, October 23rd. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Crown Castle in a research report on Thursday, October 30th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.12.

Insiders Place Their Bets

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is currently owned by company 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.