Cullen Capital Management LLC Invests $77.73 Million in Crown Castle Inc. $CCI

Cullen Capital Management LLC bought a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,026,370 shares of the real estate investment trust’s stock, valued at approximately $77,727,000.

Other hedge funds have also recently made changes to their positions in the company. Cooke & Bieler LP increased its stake in shares of Crown Castle by 21.2% during the fourth quarter. Cooke & Bieler LP now owns 2,930,797 shares of the real estate investment trust’s stock valued at $260,460,000 after buying an additional 511,763 shares during the period. Legal & General Group Plc lifted its stake in Crown Castle by 7.2% in the fourth quarter. Legal & General Group Plc now owns 6,025,433 shares of the real estate investment trust’s stock worth $535,480,000 after acquiring an additional 403,943 shares during the period. Skylands Capital LLC lifted its stake in Crown Castle by 6.2% in the fourth quarter. Skylands Capital LLC now owns 262,050 shares of the real estate investment trust’s stock worth $23,288,000 after acquiring an additional 15,300 shares during the period. Fisher Asset Management LLC grew its holdings in Crown Castle by 1.0% during the 4th quarter. Fisher Asset Management LLC now owns 5,506,580 shares of the real estate investment trust’s stock worth $489,370,000 after acquiring an additional 54,078 shares in the last quarter. Finally, Swiss Life Asset Management Ltd grew its holdings in Crown Castle by 14.2% during the 4th quarter. Swiss Life Asset Management Ltd now owns 101,289 shares of the real estate investment trust’s stock worth $9,002,000 after acquiring an additional 12,610 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. BMO Capital Markets reduced their price target on shares of Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, July 20th. JPMorgan Chase & Co. dropped their price objective on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Citigroup reissued a “market outperform” rating on shares of Crown Castle in a report on Friday, July 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a research note on Wednesday, August 19th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and an average price target of $95.13.

Crown Castle Trading Up 1.2%

Shares of CCI opened at $76.38 on Tuesday. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.08. The stock has a fifty day moving average price of $77.61 and a 200-day moving average price of $84.05. The firm has a market cap of $32.50 billion, a PE ratio of 38.77, a P/E/G ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.05 million. During the same period in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. As a group, research analysts forecast that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Dividend Announcement

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

Insiders Place Their Bets

In other news, VP Robert Sean Collins sold 1,500 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the sale, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Crown Castle 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.