2,283,447 Shares in Crown Castle Inc. $CCI Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,283,447 shares of the real estate investment trust’s stock, valued at approximately $172,925,000. Canada Pension Plan Investment Board owned approximately 0.54% of Crown Castle at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CCI. Legal & General Group Plc raised its position in shares of Crown Castle by 7.2% in the 4th quarter. Legal & General Group Plc now owns 6,025,433 shares of the real estate investment trust’s stock valued at $535,480,000 after purchasing an additional 403,943 shares in the last quarter. Cooke & Bieler LP grew its position 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 worth $260,460,000 after buying an additional 511,763 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Crown Castle by 1.0% in the fourth quarter. Fisher Asset Management LLC now owns 5,506,580 shares of the real estate investment trust’s stock worth $489,370,000 after buying an additional 54,078 shares during the last quarter. Swiss Life Asset Management Ltd increased its stake in shares of Crown Castle by 14.2% in the fourth quarter. Swiss Life Asset Management Ltd now owns 101,289 shares of the real estate investment trust’s stock worth $9,002,000 after buying an additional 12,610 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Crown Castle by 123.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 36,080 shares of the real estate investment trust’s stock valued at $3,206,000 after acquiring an additional 19,962 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Royal Bank Of Canada reduced their price objective on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. The Goldman Sachs Group began coverage on shares of Crown Castle in a research note on Friday, June 26th. They issued a “neutral” rating and a $95.00 target price on the stock. Wolfe Research cut shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. TD Cowen decreased their price target on Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group lowered their price objective on Crown Castle from $88.00 to $82.00 and set a “hold” rating for the company in a report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.13.

Insider Buying and Selling

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction that occurred 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 $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 SEC, which is available at this link. 0.09% of the stock is currently owned by insiders.

Crown Castle Price Performance

Crown Castle stock opened at $75.62 on Thursday. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $102.19. The company has a fifty day moving average price of $77.17 and a two-hundred day moving average price of $83.96. The company has a market cap of $32.17 billion, a PE ratio of 38.39, a P/E/G ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last issued its earnings results 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 for the quarter, compared to analyst estimates of $995.05 million. During the same period last year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Equities research analysts anticipate 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 $1.0625 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 215.74%.

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.