Allstate Corp Boosts Stock Position in Crown Castle Inc. $CCI

Allstate Corp lifted its position in Crown Castle Inc. (NYSE:CCI) by 99.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 34,121 shares of the real estate investment trust’s stock after purchasing an additional 16,994 shares during the quarter. Allstate Corp’s holdings in Crown Castle were worth $3,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCI. Foresight Group Ltd Liability Partnership lifted its stake in shares of Crown Castle by 25.8% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock valued at $9,950,000 after acquiring an additional 21,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Crown Castle by 15.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock valued at $6,847,000 after acquiring an additional 9,552 shares during the last quarter. National Pension Service lifted its stake in shares of Crown Castle by 3.5% in the 3rd quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock valued at $63,374,000 after acquiring an additional 21,986 shares during the last quarter. Aberdeen Group plc lifted its stake in shares of Crown Castle by 13.9% in the 4th quarter. Aberdeen Group plc now owns 1,052,667 shares of the real estate investment trust’s stock valued at $93,551,000 after acquiring an additional 128,212 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its stake in shares of Crown Castle by 30.9% in the 3rd quarter. Vinva Investment Management Ltd now owns 197,804 shares of the real estate investment trust’s stock valued at $19,027,000 after acquiring an additional 46,693 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $90.82 on Thursday. Crown Castle Inc. has a 52-week low of $75.96 and a 52-week high of $115.76. The firm has a market capitalization of $39.64 billion, a P/E ratio of 37.53, a P/E/G ratio of 0.46 and a beta of 0.93. The stock has a 50 day moving average price of $86.48 and a 200-day moving average price of $87.65.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.42 million. During the same quarter last year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down 4.9% on a year-over-year basis. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 4.22 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Monday, June 15th. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

Insiders Place Their Bets

In related news, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the completion of the transaction, the vice president owned 5,800 shares of the company’s stock, valued at $507,442. This trade represents a 34.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on CCI. HSBC lowered their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research report on Thursday, February 5th. KeyCorp upped their price target on Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $85.00 price target (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. Sanford C. Bernstein began coverage on Crown Castle in a research report on Thursday, March 5th. They set an “outperform” rating and a $102.00 price target for the company. Finally, UBS Group lowered their price target on Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.52.

Crown Castle Company 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.