California Public Employees Retirement System Reduces Stake in Crown Castle Inc. $CCI

California Public Employees Retirement System reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 15.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,619,159 shares of the real estate investment trust’s stock after selling 304,948 shares during the quarter. California Public Employees Retirement System’s holdings in Crown Castle were worth $166,336,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CCI. Norges Bank bought a new position in shares of Crown Castle during the 2nd quarter valued at approximately $629,431,000. Nuveen LLC purchased a new position in Crown Castle during the first quarter worth $305,876,000. Price T Rowe Associates Inc. MD increased its position in Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock valued at $357,834,000 after acquiring an additional 2,028,718 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Crown Castle in the first quarter valued at $149,661,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Crown Castle by 107.3% in the 1st quarter. JPMorgan Chase & Co. now owns 2,730,309 shares of the real estate investment trust’s stock worth $284,580,000 after acquiring an additional 1,412,992 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares in the company, valued at $6,431,203.68. This represents a 31.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.10% of the stock is currently owned by insiders.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $89.28 on Monday. The stock has a 50 day moving average price of $93.22 and a 200 day moving average price of $98.25. The firm has a market capitalization of $38.88 billion, a price-to-earnings ratio of -8.40, a PEG ratio of 0.66 and a beta of 0.94. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $115.76.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the previous year, the company posted $1.84 EPS. Crown Castle’s revenue was down 4.3% on a year-over-year basis. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. Analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.8%. Crown Castle’s dividend payout ratio is -39.98%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Citigroup cut their price target on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, October 16th. BMO Capital Markets dropped their target price on Crown Castle from $114.00 to $107.00 and set an “outperform” rating for the company in a research report on Wednesday, December 3rd. Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the stock an “outperform” rating in a report on Wednesday, October 1st. Barclays reissued an “equal weight” rating and set a $101.00 price target (down from $104.00) on shares of Crown Castle in a research note on Monday, December 1st. Finally, Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research report on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and an average target price of $111.59.

About Crown Castle

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.