Munich Reinsurance Co Stock Corp in Munich Buys 227,609 Shares of Crown Castle Inc. $CCI

Munich Reinsurance Co Stock Corp in Munich grew its stake in Crown Castle Inc. (NYSE:CCI) by 30.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 975,413 shares of the real estate investment trust’s stock after buying an additional 227,609 shares during the period. Crown Castle makes up about 1.9% of Munich Reinsurance Co Stock Corp in Munich’s holdings, making the stock its 15th biggest holding. Munich Reinsurance Co Stock Corp in Munich owned 0.22% of Crown Castle worth $79,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CCI. Vanguard Group Inc. raised its position in Crown Castle by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock valued at $6,200,406,000 after purchasing an additional 386,733 shares in the last quarter. Cohen & Steers Inc. lifted its stake in Crown Castle by 11.0% during the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after purchasing an additional 3,953,685 shares during the last quarter. State Street Corp boosted its holdings in shares of Crown Castle by 2.4% in 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 purchasing an additional 511,018 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Crown Castle by 2.8% in 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 purchasing an additional 380,419 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Crown Castle by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 13,027,749 shares of the real estate investment trust’s stock valued at $1,156,972,000 after purchasing an additional 184,533 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. BMO Capital Markets raised their price objective on Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, April 17th. The Goldman Sachs Group assumed coverage on Crown Castle in a research note on Friday, June 26th. They issued a “neutral” rating and a $95.00 target price for the company. Wells Fargo & Company reiterated an “equal weight” rating and set a $85.00 price target (down from $90.00) on shares of Crown Castle in a research report on Monday, March 23rd. KeyCorp lifted their price target on shares of Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Finally, Truist Financial began coverage on shares of Crown Castle in a report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $98.52.

Crown Castle Price Performance

CCI opened at $76.96 on Thursday. The stock’s 50 day simple moving average is $87.05 and its 200 day simple moving average is $86.58. Crown Castle Inc. has a 1 year low of $73.75 and a 1 year high of $115.76. The firm has a market cap of $33.59 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 0.39 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its quarterly 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. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $995.41 million. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The business’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, sell-side analysts anticipate that Crown Castle Inc. will post 4.22 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, June 15th. Crown Castle’s payout ratio is presently 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.