Corient Private Wealth LLC Sells 50,403 Shares of Crown Castle Inc. $CCI

Corient Private Wealth LLC lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 28.0% during the fourth quarter, HoldingsChannel reports. The firm owned 129,345 shares of the real estate investment trust’s stock after selling 50,403 shares during the quarter. Corient Private Wealth LLC’s holdings in Crown Castle were worth $11,500,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CCI. Norges Bank acquired a new position in shares of Crown Castle during the fourth quarter worth about $594,670,000. Lazard Asset Management LLC grew its holdings in Crown Castle by 124.2% during the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust’s stock worth $1,034,013,000 after purchasing an additional 6,445,237 shares during the period. Cohen & Steers Inc. raised its stake in Crown Castle by 11.0% in 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 acquiring an additional 3,953,685 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Crown Castle by 591.8% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock worth $431,418,000 after buying an additional 3,824,778 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Crown Castle by 422.5% during the fourth quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock worth $318,258,000 after acquiring an additional 2,895,756 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on CCI. KeyCorp upped their price target 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. Raymond James Financial lifted their target price on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 23rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. Scotiabank cut their target price on shares of 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, Wall Street Zen upgraded Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $98.52.

Crown Castle Stock Up 1.5%

Shares of NYSE:CCI opened at $84.38 on Wednesday. The stock has a market cap of $36.83 billion, a price-to-earnings ratio of 34.87, a PEG ratio of 0.42 and a beta of 0.93. The business’s 50 day moving average is $88.91 and its 200 day moving average is $87.48. Crown Castle Inc. has a 12-month low of $75.96 and a 12-month high of $115.76.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate 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 company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $995.41 million. During the same quarter in the prior year, the company posted $1.10 earnings per share. The firm’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. As a group, equities research analysts expect that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. Crown Castle’s payout ratio is 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.