Magellan Asset Management Ltd Grows Position in Crown Castle Inc. $CCI

Magellan Asset Management Ltd raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 28.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,790,344 shares of the real estate investment trust’s stock after purchasing an additional 396,096 shares during the quarter. Crown Castle makes up approximately 1.9% of Magellan Asset Management Ltd’s portfolio, making the stock its 20th largest holding. Magellan Asset Management Ltd owned 0.41% of Crown Castle worth $159,108,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Foresight Group Ltd Liability Partnership lifted its holdings in shares of Crown Castle by 25.8% in the third quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after buying an additional 21,194 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of Crown Castle by 13.9% in the fourth quarter. Aberdeen Group plc now owns 1,052,667 shares of the real estate investment trust’s stock worth $93,551,000 after buying an additional 128,212 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Crown Castle by 9.9% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 672,933 shares of the real estate investment trust’s stock worth $60,086,000 after buying an additional 60,497 shares in the last quarter. Vinva Investment Management Ltd lifted its holdings in shares of Crown Castle by 30.9% in the third quarter. Vinva Investment Management Ltd now owns 197,804 shares of the real estate investment trust’s stock worth $19,027,000 after buying an additional 46,693 shares in the last quarter. Finally, Skylands Capital LLC lifted its holdings in shares of Crown Castle by 6.2% in the fourth quarter. Skylands Capital LLC now owns 262,050 shares of the real estate investment trust’s stock worth $23,288,000 after buying an additional 15,300 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the topic of a number of recent analyst reports. Citigroup lowered their price target on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. UBS Group lowered their price target on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. KeyCorp increased their price target on shares of Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Jefferies Financial Group raised their target price on shares of Crown Castle from $84.00 to $89.00 and gave the company a “hold” rating in a research note on Tuesday, April 14th. Finally, Scotiabank lowered 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 note on Tuesday, April 7th. Two equities 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Price Performance

Shares of CCI opened at $93.79 on Friday. The firm’s 50 day simple moving average is $87.41 and its 200 day simple moving average is $87.61. The company has a market capitalization of $40.94 billion, a P/E ratio of 38.76, a P/E/G ratio of 0.45 and a beta of 0.93. Crown Castle Inc. has a 1-year low of $75.96 and a 1-year 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.55. The business 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%. Crown Castle’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period last year, the firm posted $1.10 earnings per share. Crown Castle has set its FY 2026 guidance at 4.380-4.490 EPS. On average, equities analysts anticipate that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.5%. Crown Castle’s dividend payout ratio (DPR) is 175.62%.

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.