OP Asset Management Ltd Purchases Shares of 76,525 Crown Castle Inc. $CCI

OP Asset Management Ltd acquired a new stake in Crown Castle Inc. (NYSE:CCI) in the 1st quarter, Holdings Channel reports. The firm acquired 76,525 shares of the real estate investment trust’s stock, valued at approximately $6,222,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wiser Advisor Group LLC purchased a new position in Crown Castle in the third quarter worth approximately $29,000. KERR FINANCIAL PLANNING Corp purchased a new stake in shares of Crown Castle in the 3rd quarter valued at approximately $31,000. Triumph Capital Management purchased a new stake in shares of Crown Castle in the 3rd quarter valued at approximately $31,000. Salomon & Ludwin LLC raised its holdings in shares of Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new stake in shares of Crown Castle in the 4th quarter valued at $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Sanford C. Bernstein started coverage on shares of Crown Castle in a research report on Thursday, March 5th. They set an “outperform” rating and a $102.00 price objective for the company. Zacks Research upgraded Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Scotiabank lowered their price objective on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 7th. Finally, Raymond James Financial increased their price objective on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $98.52.

Crown Castle Trading Down 3.3%

Shares of Crown Castle stock opened at $79.47 on Friday. The company has a fifty day simple moving average of $88.67 and a 200-day simple moving average of $87.37. The stock has a market cap of $34.68 billion, a price-to-earnings ratio of 32.84, a PEG ratio of 0.42 and a beta of 0.93. Crown Castle Inc. has a 12-month low of $75.96 and a 12-month high of $115.76.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $995.41 million. During the same period last year, the business earned $1.10 EPS. Crown Castle’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 4.380-4.490 EPS. On average, analysts forecast that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $1.0625 per share. The ex-dividend date is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.3%. Crown Castle’s payout ratio is 175.62%.

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.