Prudential PLC Sells 63,670 Shares of Crown Castle Inc. $CCI

Prudential PLC cut its position in Crown Castle Inc. (NYSE:CCI) by 30.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,323 shares of the real estate investment trust’s stock after selling 63,670 shares during the quarter. Prudential PLC’s holdings in Crown Castle were worth $13,004,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Wiser Advisor Group LLC bought a new position in Crown Castle in the third quarter valued at about $29,000. Triumph Capital Management bought a new position in Crown Castle in the third quarter valued at about $31,000. KERR FINANCIAL PLANNING Corp bought a new position in Crown Castle in the third quarter valued at about $31,000. Cornerstone Planning Group LLC raised its position in Crown Castle by 269.9% in the third quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 278 shares during the last quarter. Finally, Salomon & Ludwin LLC raised its position in Crown Castle by 128.7% in the fourth 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 last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research reports. Zacks Research upgraded Crown Castle from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. KeyCorp increased their price target on Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Sanford C. Bernstein initiated coverage on Crown Castle in a research note on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price target for the company. Wells Fargo & Company reissued an “equal weight” rating and issued a $85.00 price target (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Finally, BMO Capital Markets increased their price target on Crown Castle from $91.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $98.52.

Crown Castle Trading Up 0.5%

Shares of CCI stock opened at $94.27 on Friday. The stock has a market cap of $41.15 billion, a price-to-earnings ratio of 38.96, a PEG ratio of 0.48 and a beta of 0.93. The stock has a 50-day moving average of $87.75 and a 200-day moving average of $87.66. Crown Castle Inc. has a 1-year low of $75.96 and a 1-year high of $115.76.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, April 22nd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $0.47 by $0.55. Crown Castle had a negative return on equity of 64.64% and a net margin of 25.13%.The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.42 million. During the same quarter last 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. Sell-side analysts forecast that Crown Castle Inc. will post 4.22 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 yield of 4.5%. Crown Castle’s dividend payout ratio (DPR) 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.