Crown Castle Inc. $CCI Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN lifted its stake in Crown Castle Inc. (NYSE:CCI) by 5.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 109,159 shares of the real estate investment trust’s stock after acquiring an additional 5,907 shares during the quarter. OLD National Bancorp IN’s holdings in Crown Castle were worth $11,214,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CCI. Vanguard Group Inc. lifted its holdings in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after acquiring an additional 6,341,150 shares during the last quarter. Nuveen LLC acquired a new stake in Crown Castle during the 1st quarter worth approximately $305,876,000. Deutsche Bank AG lifted its holdings in Crown Castle by 60.9% during the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after buying an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Crown Castle by 144.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after buying an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Crown Castle during the 1st quarter worth approximately $149,661,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Trading Up 0.1%

Shares of CCI opened at $95.57 on Friday. The firm’s fifty day simple moving average is $99.36 and its 200-day simple moving average is $101.12. The firm has a market capitalization of $41.62 billion, a price-to-earnings ratio of -8.96, a PEG ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company’s revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm posted $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s dividend payout ratio (DPR) is -39.83%.

Analyst Ratings Changes

CCI has been the topic of a number of research reports. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Royal Bank Of Canada set a $112.00 target price on shares of Crown Castle and gave the stock an “outperform” rating in a report on Wednesday. Raymond James Financial reiterated a “strong-buy” rating and set a $124.00 target price (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. BMO Capital Markets upgraded shares of Crown Castle from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $115.00 to $120.00 in a report on Tuesday, August 19th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a report on Saturday, September 27th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $115.76.

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.