Bank of New York Mellon Corp Has $187.37 Million Stock Position in Crown Castle Inc. $CCI

Bank of New York Mellon Corp reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,108,377 shares of the real estate investment trust’s stock after selling 99,129 shares during the quarter. Bank of New York Mellon Corp’s holdings in Crown Castle were worth $187,371,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Wiser Advisor Group LLC bought a new position in Crown Castle during the 3rd quarter valued at $29,000. Triumph Capital Management bought a new position in Crown Castle during the 3rd quarter valued at $31,000. KERR FINANCIAL PLANNING Corp bought a new position in Crown Castle during the 3rd quarter valued at $31,000. Cornerstone Planning Group LLC lifted its stake in Crown Castle by 269.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 278 shares in the last quarter. Finally, Salomon & Ludwin LLC lifted its stake in Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 215 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.5%

CCI opened at $94.27 on Friday. The business has a 50 day moving average of $87.75 and a 200-day moving average of $87.66. The stock has a market cap of $41.15 billion, a PE ratio of 38.96, a PEG ratio of 0.48 and a beta of 0.93. Crown Castle Inc. has a 52 week low of $75.96 and a 52 week high of $115.76.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. 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 4.380-4.490 EPS. Equities analysts anticipate that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders 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 dividend yield of 4.5%. Crown Castle’s payout ratio is currently 175.62%.

Analysts Set New Price Targets

A number of brokerages have issued reports on CCI. BMO Capital Markets upped their price objective on Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Zacks Research upgraded Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. Raymond James Financial upped their price objective on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 23rd. Finally, Wolfe Research downgraded Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.52.

About Crown Castle

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.