Cibc World Market Inc. Acquires Shares of 146,890 Crown Castle Inc. $CCI

Cibc World Market Inc. bought a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 146,890 shares of the real estate investment trust’s stock, valued at approximately $11,124,000.

Other hedge funds have also modified their holdings of the company. Binnacle Investments Inc lifted its stake in shares of Crown Castle by 10.9% in the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 127 shares in the last quarter. Front Row Advisors LLC grew its stake in Crown Castle by 1.4% during the 1st quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 130 shares in the last quarter. Hilton Head Capital Partners LLC grew its stake in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 134 shares in the last quarter. CENTRAL TRUST Co raised its holdings in Crown Castle by 10.2% in the 1st quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 138 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in Crown Castle by 3.9% in the 4th quarter. Principal Securities Inc. now owns 3,754 shares of the real estate investment trust’s stock valued at $334,000 after acquiring an additional 142 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCI. Barclays boosted their target price on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. The Goldman Sachs Group began coverage on Crown Castle in a report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price target for the company. JPMorgan Chase & Co. reduced their price objective on Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday, July 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a research note on Wednesday, August 19th. Finally, TD Cowen dropped their target price on Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $95.13.

Insider Transactions at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares in the company, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Crown Castle Stock Performance

Crown Castle stock opened at $76.38 on Tuesday. Crown Castle Inc. has a fifty-two week low of $69.72 and a fifty-two week high of $104.08. The firm has a 50 day moving average price of $77.61 and a 200 day moving average price of $84.05. The company has a market capitalization of $32.50 billion, a PE ratio of 38.77, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.17). Crown Castle had a negative return on equity of 51.60% and a net margin of 20.71%.The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.05 million. During the same period in the previous year, the company posted $0.67 EPS. Crown Castle’s revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. As a group, equities research analysts forecast that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.6%. Crown Castle’s dividend payout ratio is 215.74%.

About Crown Castle

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.