Korea Investment CORP Makes New $29.03 Million Investment in Crown Castle Inc. $CCI

Korea Investment CORP purchased a new stake in Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 383,293 shares of the real estate investment trust’s stock, valued at approximately $29,027,000. Korea Investment CORP owned approximately 0.09% of Crown Castle at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Empowered Funds LLC raised its position in shares of Crown Castle by 7.5% during the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares during the last quarter. First Trust Advisors LP lifted its stake in Crown Castle by 6.9% in the 2nd quarter. First Trust Advisors LP now owns 87,611 shares of the real estate investment trust’s stock valued at $9,000,000 after buying an additional 5,630 shares in the last quarter. Baird Financial Group Inc. grew its holdings in Crown Castle by 3.7% during the 2nd quarter. Baird Financial Group Inc. now owns 7,655 shares of the real estate investment trust’s stock valued at $786,000 after buying an additional 272 shares during the last quarter. Jump Financial LLC increased its position in Crown Castle by 49.3% during the second quarter. Jump Financial LLC now owns 10,913 shares of the real estate investment trust’s stock worth $1,121,000 after buying an additional 3,603 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in Crown Castle by 5.6% during the second quarter. Federated Hermes Inc. now owns 4,955 shares of the real estate investment trust’s stock worth $509,000 after buying an additional 261 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Crown Castle

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 transaction of $113,835.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by corporate insiders.

Crown Castle Trading Up 0.2%

Shares of CCI stock opened at $75.53 on Friday. The firm has a fifty day simple moving average of $77.86 and a 200-day simple moving average of $84.11. The company has a market capitalization of $32.13 billion, a PE ratio of 38.34, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $104.61.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.17). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.05 million. During the same quarter in the prior year, the business earned $0.67 earnings per share. The firm’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. Equities research analysts predict that Crown Castle Inc. will post 4.39 EPS for the current year.

Crown Castle Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada decreased their price objective on Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research report on Wednesday. Barclays raised their price target on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. dropped their price objective on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Finally, Jefferies Financial Group cut their price objective on shares of Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $95.13.

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.