Prudential PLC Raises Stock Holdings in Crown Castle Inc. $CCI

Prudential PLC raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 206,995 shares of the real estate investment trust’s stock after purchasing an additional 11,946 shares during the quarter. Prudential PLC’s holdings in Crown Castle were worth $21,265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Crown Castle by 4.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 33,525 shares of the real estate investment trust’s stock valued at $3,494,000 after acquiring an additional 1,381 shares in the last quarter. HighPoint Advisor Group LLC lifted its position in Crown Castle by 16.0% during the first quarter. HighPoint Advisor Group LLC now owns 8,553 shares of the real estate investment trust’s stock valued at $887,000 after acquiring an additional 1,182 shares during the last quarter. Ignite Planners LLC boosted its position in shares of Crown Castle by 11.3% in the 1st quarter. Ignite Planners LLC now owns 8,433 shares of the real estate investment trust’s stock worth $896,000 after purchasing an additional 859 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Crown Castle by 8.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 541,017 shares of the real estate investment trust’s stock valued at $56,390,000 after acquiring an additional 41,373 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in Crown Castle by 0.7% in the 1st quarter. KLP Kapitalforvaltning AS now owns 149,979 shares of the real estate investment trust’s stock worth $15,632,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CCI. Citigroup dropped their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. The Goldman Sachs Group increased their price target on shares of Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. BMO Capital Markets dropped their price objective on Crown Castle from $120.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. UBS Group increased their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Friday, July 25th. Finally, JPMorgan Chase & Co. lowered their price target on Crown Castle from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average price target of $112.18.

Crown Castle Trading Up 0.0%

NYSE CCI opened at $91.05 on Thursday. The stock has a market cap of $39.65 billion, a PE ratio of -8.57, a P/E/G ratio of 0.68 and a beta of 0.94. The stock has a fifty day simple moving average of $94.36 and a 200-day simple moving average of $99.38. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.76.

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

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th. Crown Castle’s payout ratio is currently -39.98%.

Insider Buying and Selling at Crown Castle

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

Crown Castle 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.