Penserra Capital Management LLC Has $8.79 Million Stock Position in Crown Castle Inc. $CCI

Penserra Capital Management LLC boosted its position in Crown Castle Inc. (NYSE:CCI) by 456.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,589 shares of the real estate investment trust’s stock after buying an additional 70,214 shares during the quarter. Penserra Capital Management LLC’s holdings in Crown Castle were worth $8,791,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Crown Castle by 10.1% during the first quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock valued at $7,175,256,000 after acquiring an additional 6,341,150 shares during the period. Nuveen LLC acquired a new position in shares of Crown Castle during the 1st quarter worth about $305,876,000. Deutsche Bank AG lifted its position in shares of Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Crown Castle by 144.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock valued at $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in Crown Castle in the 1st quarter valued at approximately $149,661,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $89.54 on Friday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76. The firm has a market capitalization of $38.99 billion, a PE ratio of -8.42, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94. The company’s fifty day moving average price is $95.03 and its two-hundred day moving average price is $100.03.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm earned $1.84 EPS. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on CCI. Citigroup cut their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an “outperform” rating in a research report on Wednesday, October 1st. Wells Fargo & Company reduced their price target on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, October 20th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Raymond James Financial cut their price objective on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $113.12.

Insider Buying and Selling at Crown Castle

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the sale, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. This represents a 31.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Company 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.