Man Group plc Buys New Shares in Crown Castle Inc. $CCI

Man Group plc bought a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, Holdings Channel.com reports. The fund bought 305,683 shares of the real estate investment trust’s stock, valued at approximately $23,149,000.

Other large investors also recently bought and sold shares of the company. Invst LLC purchased a new stake in shares of Crown Castle during the second quarter worth approximately $721,000. Jupiter Topco LLC purchased a new position in Crown Castle in the second quarter worth approximately $4,310,000. EFG International AG acquired a new position in Crown Castle during the 2nd quarter worth approximately $2,057,000. Ancora Advisors LLC acquired a new position in Crown Castle during the 2nd quarter worth approximately $139,000. Finally, Canada Pension Plan Investment Board acquired a new position in Crown Castle during the 2nd quarter worth approximately $172,925,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares in the company, valued at $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Crown Castle Stock Down 0.9%

Shares of Crown Castle stock opened at $75.62 on Thursday. The firm has a market capitalization of $32.17 billion, a P/E ratio of 38.39, a P/E/G ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $102.19. The firm’s 50 day moving average is $77.17 and its two-hundred day moving average is $83.96.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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 negative return on equity of 51.60% and a net margin of 20.71%.The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.05 million. During the same quarter in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. As a group, research analysts expect that Crown Castle Inc. will post 4.39 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on CCI. BMO Capital Markets reduced their price objective on shares of Crown Castle from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, July 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research note on Wednesday, August 19th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Citizens Jmp dropped their target price on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a report on Friday, July 24th. Finally, The Goldman Sachs Group started coverage on Crown Castle in a research note on Friday, June 26th. They issued a “neutral” rating and a $95.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock 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.