Moore Capital Management LP Acquires New Position in Crown Castle Inc. $CCI

Moore Capital Management LP acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 59,151 shares of the real estate investment trust’s stock, valued at approximately $4,480,000.

A number of other large investors also recently added to or reduced their stakes in CCI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Crown Castle by 18,599.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,872,994 shares of the real estate investment trust’s stock worth $293,302,000 after buying an additional 3,852,282 shares in the last quarter. New Mexico Educational Retirement Board increased its holdings in shares of Crown Castle by 8.0% in the 2nd quarter. New Mexico Educational Retirement Board now owns 21,700 shares of the real estate investment trust’s stock worth $1,643,000 after buying an additional 1,600 shares during the last quarter. Royal London Asset Management Ltd. raised its position in shares of Crown Castle by 0.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 209,635 shares of the real estate investment trust’s stock valued at $15,876,000 after buying an additional 1,808 shares in the last quarter. Mufg Securities Americas Inc. lifted its holdings in shares of Crown Castle by 9.1% in the 2nd quarter. Mufg Securities Americas Inc. now owns 13,146 shares of the real estate investment trust’s stock valued at $996,000 after acquiring an additional 1,096 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Crown Castle by 14.5% during the second quarter. Van ECK Associates Corp now owns 223,758 shares of the real estate investment trust’s stock valued at $16,945,000 after purchasing an additional 28,253 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCI has been the topic of several recent research reports. Citigroup restated a “market outperform” rating on shares of Crown Castle in a report on Friday, July 24th. Royal Bank Of Canada reduced their target price on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. BMO Capital Markets dropped their price target on shares of Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a research report on Wednesday, August 19th. Finally, Barclays raised their price objective on shares of Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average price target of $95.13.

Crown Castle Price Performance

Crown Castle stock opened at $76.25 on Tuesday. The stock has a market cap of $32.44 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The firm has a 50-day moving average of $76.78 and a two-hundred day moving average of $83.81. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $100.50.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.17). Crown Castle had a net margin of 20.71% and a negative return on equity of 51.60%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $995.05 million. During the same quarter in the previous year, the firm posted $0.67 EPS. 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 4.530-4.650 EPS. Research analysts expect that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. Crown Castle’s dividend payout ratio is presently 215.74%.

Insider Activity

In other news, VP Robert Sean Collins sold 1,500 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the transaction, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

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.