Bridges Investment Management Inc. Buys 6,671 Shares of Crown Castle Inc. $CCI

Bridges Investment Management Inc. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 46.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 21,121 shares of the real estate investment trust’s stock after buying an additional 6,671 shares during the period. Bridges Investment Management Inc.’s holdings in Crown Castle were worth $1,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Choreo LLC lifted its holdings in shares of Crown Castle by 1.1% during the 3rd quarter. Choreo LLC now owns 11,021 shares of the real estate investment trust’s stock valued at $1,063,000 after buying an additional 120 shares during the period. United Asset Strategies Inc. lifted its holdings in shares of Crown Castle by 2.5% during the 4th quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 120 shares during the period. Consolidated Portfolio Review Corp lifted its holdings in shares of Crown Castle by 1.1% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 10,966 shares of the real estate investment trust’s stock valued at $1,058,000 after buying an additional 123 shares during the period. Binnacle Investments Inc increased its stake in shares of Crown Castle by 10.9% in the 3rd quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 127 shares in the last quarter. Finally, Integrated Advisors Network LLC increased its stake in shares of Crown Castle by 5.6% in the 3rd quarter. Integrated Advisors Network LLC now owns 2,489 shares of the real estate investment trust’s stock worth $240,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of several analyst reports. Wells Fargo & Company restated an “equal weight” rating and issued a $85.00 price objective (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Citigroup reduced their price objective on Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Truist Financial initiated coverage on Crown Castle in a research note on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price objective for the company. Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Zacks Research upgraded Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.52.

Crown Castle Price Performance

Shares of NYSE CCI opened at $88.78 on Thursday. The firm has a 50-day simple moving average of $87.10 and a two-hundred day simple moving average of $87.60. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The company has a market cap of $38.75 billion, a P/E ratio of 36.68, a PEG ratio of 0.46 and a beta of 0.93.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.55. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The company’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, equities research analysts expect that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, June 15th. Crown Castle’s payout ratio is currently 175.62%.

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.