Crown Castle Inc. $CCI Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in Crown Castle Inc. (NYSE:CCI) by 2.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 899,853 shares of the real estate investment trust’s stock after buying an additional 19,789 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Crown Castle were worth $92,442,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Iron Horse Wealth Management LLC acquired a new position in Crown Castle in the first quarter valued at $26,000. Centerpoint Advisors LLC purchased a new stake in shares of Crown Castle in the 1st quarter valued at about $26,000. Stone House Investment Management LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at about $27,000. Rise Advisors LLC purchased a new position in Crown Castle during the 1st quarter worth approximately $28,000. Finally, WPG Advisers LLC purchased a new position in Crown Castle during the 1st quarter worth approximately $33,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.3%

Shares of NYSE:CCI opened at $98.58 on Friday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The company has a 50-day moving average price of $97.03 and a 200 day moving average price of $100.62. The company has a market cap of $42.93 billion, a P/E ratio of -9.27, a PEG ratio of 0.74 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $1.84 EPS. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s payout ratio is presently -39.98%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CCI shares. Scotiabank increased their price objective on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. KeyCorp decreased their price target on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. Raymond James Financial dropped their price objective on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday. JMP Securities reiterated a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. Finally, Citigroup lowered their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $113.12.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.