Nomura Asset Management Co. Ltd. Boosts Stake in Crown Castle Inc. $CCI

Nomura Asset Management Co. Ltd. increased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 146,270 shares of the real estate investment trust’s stock after acquiring an additional 9,880 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Crown Castle were worth $15,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Crown Castle by 4.3% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 33,525 shares of the real estate investment trust’s stock valued at $3,494,000 after purchasing an additional 1,381 shares in the last quarter. HighPoint Advisor Group LLC grew its position in Crown Castle by 16.0% during the first quarter. HighPoint Advisor Group LLC now owns 8,553 shares of the real estate investment trust’s stock worth $887,000 after buying an additional 1,182 shares during the period. Ignite Planners LLC grew its position in Crown Castle by 11.3% during the first quarter. Ignite Planners LLC now owns 8,433 shares of the real estate investment trust’s stock worth $896,000 after buying an additional 859 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Crown Castle by 8.3% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 541,017 shares of the real estate investment trust’s stock valued at $56,390,000 after buying an additional 41,373 shares in the last quarter. Finally, KLP Kapitalforvaltning AS lifted its position in shares of Crown Castle by 0.7% during the 1st quarter. KLP Kapitalforvaltning AS now owns 149,979 shares of the real estate investment trust’s stock valued at $15,632,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction that occurred on Friday, October 24th. The shares were 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 directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CCI shares. BMO Capital Markets lowered their price target on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. The Goldman Sachs Group boosted their target price on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Scotiabank lifted their price target on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research note on Friday, July 25th. Finally, Citigroup lowered their price objective on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.18.

Crown Castle Stock Up 0.0%

CCI opened at $91.05 on Thursday. The firm has a market cap of $39.65 billion, a P/E ratio of -8.57, a PEG ratio of 0.68 and a beta of 0.94. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The business’s fifty day simple moving average is $94.36 and its 200 day simple moving average is $99.38.

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, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $1.84 EPS. The firm’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. As a group, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

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

Crown Castle Profile

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.