OLD National Bancorp IN Sells 50,437 Shares of Crown Castle Inc. $CCI

OLD National Bancorp IN reduced its stake in Crown Castle Inc. (NYSE:CCI) by 75.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,104 shares of the real estate investment trust’s stock after selling 50,437 shares during the quarter. OLD National Bancorp IN’s holdings in Crown Castle were worth $1,309,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Wiser Advisor Group LLC bought a new stake in shares of Crown Castle in the 3rd quarter worth $29,000. Triumph Capital Management bought a new position in shares of Crown Castle during the third quarter valued at about $31,000. KERR FINANCIAL PLANNING Corp bought a new position in shares of Crown Castle during the third quarter valued at about $31,000. Hilton Head Capital Partners LLC boosted its holdings in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 134 shares during the last quarter. Finally, Salomon & Ludwin LLC boosted its holdings in Crown Castle by 128.7% during the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 215 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCI has been the subject of several analyst reports. Zacks Research upgraded shares of Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Jefferies Financial Group boosted their target price on Crown Castle from $84.00 to $89.00 and gave the stock a “hold” rating in a research note on Tuesday, April 14th. BMO Capital Markets upped their target price on Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Wolfe Research lowered Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Finally, Truist Financial began coverage on Crown Castle in a report on Tuesday, March 31st. They set a “hold” rating and a $90.00 price target on the stock. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.52.

Crown Castle Stock Performance

Shares of CCI opened at $82.58 on Friday. The business has a 50-day moving average of $88.61 and a 200 day moving average of $87.33. Crown Castle Inc. has a fifty-two week low of $75.96 and a fifty-two week high of $115.76. The firm has a market cap of $36.04 billion, a P/E ratio of 34.12, a price-to-earnings-growth ratio of 0.42 and a beta of 0.93.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.55. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.41 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 company earned $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, research analysts predict that Crown Castle Inc. will post 4.22 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a $1.0625 dividend. The ex-dividend date is Monday, June 15th. This represents a $4.25 annualized dividend and a yield of 5.1%. Crown Castle’s dividend payout ratio (DPR) is currently 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.