Bank of New York Mellon Corp Increases Position in Crown Castle Inc. $CCI

Bank of New York Mellon Corp increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 8.3% during the 1st quarter, Holdings Channel reports. The firm owned 2,283,912 shares of the real estate investment trust’s stock after acquiring an additional 175,535 shares during the period. Bank of New York Mellon Corp’s holdings in Crown Castle were worth $185,705,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. MASTERINVEST Kapitalanlage GmbH boosted its stake in shares of Crown Castle by 37.4% in the first quarter. MASTERINVEST Kapitalanlage GmbH now owns 8,535 shares of the real estate investment trust’s stock worth $694,000 after acquiring an additional 2,324 shares during the period. Sanctuary Advisors LLC lifted its holdings in Crown Castle by 2.0% in the 1st quarter. Sanctuary Advisors LLC now owns 73,063 shares of the real estate investment trust’s stock worth $5,941,000 after purchasing an additional 1,428 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in Crown Castle by 17.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 4,444 shares of the real estate investment trust’s stock worth $361,000 after purchasing an additional 666 shares in the last quarter. Bryn Mawr Trust Advisors LLC boosted its stake in Crown Castle by 3.5% in the 1st quarter. Bryn Mawr Trust Advisors LLC now owns 8,363 shares of the real estate investment trust’s stock worth $680,000 after purchasing an additional 283 shares during the period. Finally, Integrity Wealth Solutions LLC bought a new position in Crown Castle in the 1st quarter worth approximately $203,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Wolfe Research downgraded shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 20th. Scotiabank dropped their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a research report on Tuesday, April 7th. KeyCorp raised their target price on shares of Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $85.00 price target (down from $90.00) on shares of Crown Castle in a report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Price Performance

NYSE:CCI opened at $79.24 on Friday. Crown Castle Inc. has a 1 year low of $73.75 and a 1 year high of $115.76. The stock’s 50 day simple moving average is $85.66 and its two-hundred day simple moving average is $86.18. The company has a market cap of $34.59 billion, a price-to-earnings ratio of 32.75, a PEG ratio of 0.40 and a beta of 0.95.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. The firm had revenue of $1.01 billion during 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 company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, analysts anticipate that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.4%. Crown Castle’s dividend payout ratio is presently 175.62%.

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.