Strs Ohio Sells 192,615 Shares of Crown Castle Inc. $CCI

Strs Ohio trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 69.7% during the first quarter, HoldingsChannel.com reports. The firm owned 83,778 shares of the real estate investment trust’s stock after selling 192,615 shares during the period. Strs Ohio’s holdings in Crown Castle were worth $6,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCI. Vanguard Group Inc. boosted its position in Crown Castle by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock worth $6,200,406,000 after buying an additional 386,733 shares during the period. Cohen & Steers Inc. increased its position in Crown Castle by 11.0% in the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock valued at $3,536,214,000 after acquiring an additional 3,953,685 shares during the period. State Street Corp raised its stake in shares of Crown Castle by 2.4% during the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock valued at $1,976,430,000 after acquiring an additional 511,018 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Crown Castle by 2.8% during the fourth quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock worth $1,243,012,000 after purchasing an additional 380,419 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Crown Castle by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust’s stock worth $1,156,972,000 after purchasing an additional 184,533 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CCI. KeyCorp increased their price objective on Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. BMO Capital Markets lifted their target price on Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Truist Financial assumed coverage on Crown Castle in a research report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price target on the stock. Raymond James Financial increased their price target on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, The Goldman Sachs Group initiated coverage on Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Trading Down 0.2%

Shares of Crown Castle stock opened at $76.46 on Monday. The company has a market cap of $33.37 billion, a P/E ratio of 31.60, a PEG ratio of 0.39 and a beta of 0.95. The business has a 50-day moving average price of $87.61 and a two-hundred day moving average price of $86.82. Crown Castle Inc. has a 1-year low of $74.33 and a 1-year high of $115.76.

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

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

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.