Prudential PLC Has $13 Million Stock Position in Crown Castle Inc. $CCI

Prudential PLC lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 30.3% in the 4th quarter, HoldingsChannel reports. The firm owned 146,323 shares of the real estate investment trust’s stock after selling 63,670 shares during the period. Prudential PLC’s holdings in Crown Castle were worth $13,004,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CCI. Norges Bank acquired a new stake in Crown Castle in the fourth quarter valued at approximately $594,670,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Crown Castle by 591.8% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock valued at $431,418,000 after acquiring an additional 3,824,778 shares during the period. Principal Financial Group Inc. grew its stake in Crown Castle by 422.5% in the fourth quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock valued at $318,258,000 after acquiring an additional 2,895,756 shares during the period. Invesco Ltd. grew its stake in Crown Castle by 33.2% in the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after acquiring an additional 1,605,291 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Crown Castle in the third quarter valued at approximately $121,726,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research reports. Zacks Research raised Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Scotiabank reduced their price objective on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 7th. Raymond James Financial raised their price objective on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 23rd. Truist Financial initiated coverage on Crown Castle in a research note on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price objective for the company. Finally, Wells Fargo & Company reissued an “equal weight” rating and issued a $85.00 price objective (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Trading Up 0.5%

Shares of Crown Castle stock opened at $94.27 on Friday. The stock has a fifty day simple moving average of $87.75 and a 200 day simple moving average of $87.66. Crown Castle Inc. has a 12-month low of $75.96 and a 12-month high of $115.76. The company has a market capitalization of $41.15 billion, a P/E ratio of 38.96, a price-to-earnings-growth ratio of 0.48 and a beta of 0.93.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate of $0.47 by $0.55. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, analysts predict that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a $1.0625 dividend. The ex-dividend date is Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle’s dividend payout ratio is currently 175.62%.

Crown Castle Company Profile

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.