CIBC Asset Management Inc Raises Stock Position in Crown Castle Inc. $CCI

CIBC Asset Management Inc raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 69.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,758 shares of the real estate investment trust’s stock after purchasing an additional 42,009 shares during the quarter. CIBC Asset Management Inc’s holdings in Crown Castle were worth $9,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CCI. Foresight Group Ltd Liability Partnership raised 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 period. Aberdeen Group plc raised 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 period. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Crown Castle by 9.9% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 672,933 shares of the real estate investment trust’s stock valued at $60,086,000 after acquiring an additional 60,497 shares during the period. Vinva Investment Management Ltd raised 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 period. Finally, Skylands Capital LLC raised its stake in shares of Crown Castle by 6.2% in the 4th quarter. Skylands Capital LLC now owns 262,050 shares of the real estate investment trust’s stock valued at $23,288,000 after acquiring an additional 15,300 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI opened at $94.27 on Friday. The company’s 50 day moving average price is $87.75 and its 200 day moving average price is $87.66. Crown Castle Inc. has a 52 week low of $75.96 and a 52 week high of $115.76. The company has a market capitalization of $41.15 billion, a PE ratio of 38.96, a PEG ratio of 0.48 and a beta of 0.93.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data 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. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.42 million. During the same period in the previous year, the firm posted $1.10 earnings per share. The firm’s revenue 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 earnings per share 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. 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 4.5%. Crown Castle’s payout ratio is presently 175.62%.

Analyst Ratings Changes

CCI has been the topic of a number of research reports. Sanford C. Bernstein started coverage on shares of Crown Castle in a research note on Thursday, March 5th. They issued an “outperform” rating and a $102.00 target price on the stock. Raymond James Financial raised their price target on shares of Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a report on Thursday, April 23rd. Barclays raised their price target on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. 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 report on Monday, March 23rd. Finally, Scotiabank lowered their price target on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus 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.