Legal & General Group Plc Buys 403,943 Shares of Crown Castle Inc. $CCI

Legal & General Group Plc increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,025,433 shares of the real estate investment trust’s stock after acquiring an additional 403,943 shares during the period. Legal & General Group Plc’s holdings in Crown Castle were worth $535,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wiser Advisor Group LLC bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $29,000. LRI Investments LLC bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $29,000. Triumph Capital Management bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $31,000. KERR FINANCIAL PLANNING Corp bought a new position in Crown Castle in the 3rd quarter valued at $31,000. Finally, Cornerstone Planning Group LLC raised its position in Crown Castle by 269.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 278 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Jefferies Financial Group lifted their price objective on Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research report on Tuesday, April 14th. Sanford C. Bernstein assumed coverage on Crown Castle in a research report on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price objective for the company. HSBC cut their price objective on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research report on Thursday, February 5th. Finally, Zacks Research upgraded Crown Castle from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.52.

Insider Buying and Selling at Crown Castle

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the sale, the executive vice president directly owned 25,183 shares of the company’s stock, valued at approximately $2,174,300.22. This trade represents a 15.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the completion of the sale, the vice president directly owned 5,800 shares of the company’s stock, valued at $507,442. This trade represents a 34.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.09% of the stock is currently owned by company insiders.

Crown Castle Stock Performance

NYSE CCI opened at $91.42 on Tuesday. The stock has a fifty day moving average of $86.35 and a 200-day moving average of $87.62. The stock has a market capitalization of $39.90 billion, a P/E ratio of 37.78, a price-to-earnings-growth ratio of 0.46 and a beta of 0.93. Crown Castle Inc. has a 52 week low of $75.96 and a 52 week high of $115.76.

Crown Castle (NYSE:CCI) last released 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. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The business’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period last year, the firm earned $1.10 EPS. 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 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 paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, June 15th. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

About Crown Castle

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.