State of Michigan Retirement System Boosts Stock Position in Crown Castle Inc. $CCI

State of Michigan Retirement System boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 0.5% during the second quarter, HoldingsChannel reports. The fund owned 118,452 shares of the real estate investment trust’s stock after buying an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Crown Castle were worth $12,169,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new position in Crown Castle in the first quarter valued at approximately $26,000. Centerpoint Advisors LLC acquired a new position in Crown Castle in the first quarter valued at approximately $26,000. Stone House Investment Management LLC acquired a new position in Crown Castle in the first quarter valued at approximately $27,000. Rise Advisors LLC acquired a new position in Crown Castle in the first quarter valued at approximately $28,000. Finally, Creative Financial Designs Inc. ADV lifted its holdings in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent analyst reports. Royal Bank Of Canada set a $112.00 price objective on Crown Castle and gave the company an “outperform” rating in a report on Wednesday, October 1st. KeyCorp decreased their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. The Goldman Sachs Group upped their price target on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. JMP Securities restated a “market outperform” rating and set a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. Finally, Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.12.

Crown Castle Stock Down 0.8%

NYSE:CCI opened at $89.47 on Tuesday. The stock’s fifty day moving average is $95.85 and its two-hundred day moving average is $100.40. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $115.76. The stock has a market capitalization of $38.96 billion, a price-to-earnings ratio of -8.42, a price-to-earnings-growth ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.08. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, September 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Insider Activity

In other news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total value of $2,942,400.00. Following the sale, the executive vice president directly owned 65,571 shares in the company, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.10% of the company’s stock.

Crown Castle Company Profile

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.