CIBC Asset Management Inc Has $9.13 Million Stock Position in Crown Castle Inc. $CCI

CIBC Asset Management Inc lifted its position in Crown Castle Inc. (NYSE:CCI) by 69.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 102,758 shares of the real estate investment trust’s stock after purchasing an additional 42,009 shares during the period. CIBC Asset Management Inc’s holdings in Crown Castle were worth $9,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of CCI. Wiser Advisor Group LLC bought a new stake in Crown Castle in the 3rd quarter valued at $29,000. Triumph Capital Management bought a new stake in Crown Castle in the 3rd quarter valued at $31,000. KERR FINANCIAL PLANNING Corp bought a new stake in Crown Castle in the 3rd quarter valued at $31,000. Cornerstone Planning Group LLC increased its holdings in Crown Castle by 269.9% in the 3rd quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after buying an additional 278 shares during the period. Finally, Salomon & Ludwin LLC increased its holdings in Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 215 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

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

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (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 business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. During the same period in the prior year, the business earned $1.10 EPS. Crown Castle’s revenue for the quarter 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. On average, analysts predict that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CCI. Wolfe Research lowered shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Barclays boosted their price target on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Zacks Research raised shares of Crown Castle from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. BMO Capital Markets boosted their price target on shares of Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Finally, Sanford C. Bernstein began coverage on shares of Crown Castle in a report on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.