Capital World Investors Sells 348,581 Shares of Crown Castle Inc. $CCI

Capital World Investors lowered its stake in Crown Castle Inc. (NYSE:CCI) by 11.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,652,184 shares of the real estate investment trust’s stock after selling 348,581 shares during the quarter. Capital World Investors owned 0.61% of Crown Castle worth $235,700,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CCI. Wiser Advisor Group LLC acquired a new stake in Crown Castle in the 3rd quarter valued at $29,000. KERR FINANCIAL PLANNING Corp acquired a new stake in Crown Castle in the 3rd quarter valued at $31,000. Triumph Capital Management acquired a new stake in Crown Castle in the 3rd quarter valued at $31,000. Salomon & Ludwin LLC grew its position in Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 215 shares during the period. Finally, Aventura Private Wealth LLC acquired a new stake in Crown Castle in the 4th quarter valued at $39,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Truist Financial initiated coverage on shares of Crown Castle in a report on Tuesday, March 31st. They set a “hold” rating and a $90.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Crown Castle in a report on Thursday, March 5th. They set an “outperform” rating and a $102.00 price objective on the stock. Scotiabank cut their price objective on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating on the stock in a report on Tuesday, April 7th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $85.00 price objective (down from $90.00) on shares of Crown Castle in a report on Monday, March 23rd. 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $91.82 on Tuesday. The company’s 50-day moving average is $88.03 and its 200 day moving average is $87.64. The company has a market capitalization of $40.08 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 0.48 and a beta of 0.93. Crown Castle Inc. has a fifty-two week low of $75.96 and a fifty-two week high of $115.76.

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 for the quarter, topping analysts’ consensus estimates of $0.47 by $0.55. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $995.42 million. Crown Castle had a net margin of 25.13% and a negative return on equity of 64.64%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.10 EPS. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. As a group, research analysts predict that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date is Monday, June 15th. Crown Castle’s payout ratio is currently 175.62%.

About Crown Castle

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.