Crown Castle Inc. $CCI Stock Position Lessened by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 24.6% during the first quarter, Holdings Channel.com reports. The firm owned 837,246 shares of the real estate investment trust’s stock after selling 273,658 shares during the quarter. California Public Employees Retirement System’s holdings in Crown Castle were worth $68,076,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of CCI. Vanguard Group Inc. lifted its holdings in Crown Castle by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock worth $6,200,406,000 after purchasing an additional 386,733 shares during the period. Cohen & Steers Inc. increased its stake in Crown Castle by 11.0% during the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock valued at $3,536,214,000 after buying an additional 3,953,685 shares during the period. State Street Corp raised its position in shares of Crown Castle by 2.4% during the 4th quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock worth $1,976,430,000 after buying an additional 511,018 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Crown Castle by 2.8% during the 4th quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock worth $1,243,012,000 after buying an additional 380,419 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Crown Castle by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust’s stock worth $1,156,972,000 after acquiring an additional 184,533 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CCI shares. Wells Fargo & Company reiterated an “equal weight” rating and issued a $85.00 price objective (down from $90.00) on shares of Crown Castle in a report on Monday, March 23rd. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. KeyCorp upped their target price on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Scotiabank lowered their price target on Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a research report on Tuesday, April 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $98.52.

Crown Castle Trading Up 0.1%

NYSE:CCI opened at $79.24 on Monday. The company has a 50-day moving average of $85.66 and a 200-day moving average of $86.16. The firm has a market cap of $34.59 billion, a price-to-earnings ratio of 32.75, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $73.75 and a twelve month high of $115.76.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.55. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.41 million. During the same period in the previous year, the firm earned $1.10 EPS. The business’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, research analysts forecast that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a $1.0625 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.4%. Crown Castle’s dividend payout ratio is currently 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.