Magellan Asset Management Ltd Boosts Holdings in Crown Castle Inc. $CCI

Magellan Asset Management Ltd grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 28.4% during the 4th quarter, HoldingsChannel reports. The fund owned 1,790,344 shares of the real estate investment trust’s stock after acquiring an additional 396,096 shares during the quarter. Crown Castle makes up 1.9% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 20th biggest position. Magellan Asset Management Ltd’s holdings in Crown Castle were worth $159,108,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CCI. Daiwa Securities Group Inc. grew its holdings in shares of Crown Castle by 9.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,312,955 shares of the real estate investment trust’s stock worth $383,293,000 after purchasing an additional 381,697 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of Crown Castle by 1.1% in the fourth quarter. TD Asset Management Inc now owns 169,540 shares of the real estate investment trust’s stock worth $15,067,000 after purchasing an additional 1,813 shares during the last quarter. Cibc World Market Inc. grew its holdings in shares of Crown Castle by 18.4% in the fourth quarter. Cibc World Market Inc. now owns 294,286 shares of the real estate investment trust’s stock worth $26,153,000 after purchasing an additional 45,641 shares during the last quarter. Lido Advisors LLC grew its holdings in shares of Crown Castle by 3.9% in the fourth quarter. Lido Advisors LLC now owns 7,615 shares of the real estate investment trust’s stock worth $725,000 after purchasing an additional 285 shares during the last quarter. Finally, REAP Financial Group LLC grew its holdings in shares of Crown Castle by 102.1% in the fourth quarter. REAP Financial Group LLC now owns 786 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 397 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 5.8%

Shares of CCI stock opened at $93.79 on Friday. The stock has a fifty day moving average of $87.41 and a 200 day moving average of $87.61. Crown Castle Inc. has a 52 week low of $75.96 and a 52 week high of $115.76. The firm has a market capitalization of $40.94 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 0.45 and a beta of 0.93.

Crown Castle (NYSE:CCI) last announced 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. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.42 million. During the same quarter last year, the firm posted $1.10 earnings per share. The firm’s revenue was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Equities research analysts anticipate that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.5%. Crown Castle’s dividend payout ratio (DPR) is presently 175.62%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CCI. BMO Capital Markets raised their target price on shares of Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Zacks Research upgraded shares of Crown Castle from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Citigroup cut their target price on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. The Goldman Sachs Group cut their target price on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. Finally, Truist Financial initiated coverage on shares of Crown Castle in a report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.52.

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.