Fisher Funds Management LTD Sells 72,133 Shares of Crown Castle Inc. $CCI

Fisher Funds Management LTD trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 22.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 243,881 shares of the real estate investment trust’s stock after selling 72,133 shares during the period. Fisher Funds Management LTD’s holdings in Crown Castle were worth $19,830,000 as of its most recent SEC filing.

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

Crown Castle Price Performance

CCI stock opened at $82.02 on Monday. Crown Castle Inc. has a 52-week low of $75.96 and a 52-week high of $115.76. The company has a 50-day moving average of $89.02 and a two-hundred day moving average of $87.55. The stock has a market capitalization of $35.80 billion, a price-to-earnings ratio of 33.89, a price-to-earnings-growth ratio of 0.42 and a beta of 0.93.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.55. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period last year, the business posted $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. Equities analysts expect that Crown Castle Inc. will post 4.22 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.2%. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CCI shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. BMO Capital Markets increased their price objective on Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Sanford C. Bernstein assumed coverage on Crown Castle in a research note on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price objective on the stock. Scotiabank reduced their target price on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a report on Tuesday, April 7th. Finally, Barclays upped their target price on Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.