Connor Clark & Lunn Investment Management Ltd. Acquires New Shares in Crown Castle Inc. $CCI

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 201,617 shares of the real estate investment trust’s stock, valued at approximately $15,268,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wiser Advisor Group LLC bought a new position in Crown Castle during the 3rd quarter worth approximately $29,000. Triumph Capital Management bought a new stake in Crown Castle in the third quarter valued at approximately $31,000. Hilton Head Capital Partners LLC increased its stake in Crown Castle by 55.6% in the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 134 shares in the last quarter. MV Capital Management Inc. acquired a new stake in Crown Castle in the fourth quarter worth $34,000. Finally, Global Assets Advisory LLC acquired a new stake in Crown Castle in the first quarter worth $32,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $76.25 on Wednesday. Crown Castle Inc. has a 52 week low of $69.72 and a 52 week high of $102.19. The company’s 50 day moving average price is $77.38 and its two-hundred day moving average price is $83.98. The company has a market capitalization of $32.44 billion, a P/E ratio of 38.71, a price-to-earnings-growth ratio of 0.41 and a beta of 0.95.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 22nd. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $995.05 million. During the same quarter last year, the company earned $0.67 EPS. The firm’s quarterly revenue was down 4.9% compared to the same quarter last year. Crown Castle has set its FY 2026 guidance at 4.530-4.650 EPS. Analysts forecast that Crown Castle Inc. will post 4.39 earnings per share for the current year.

Crown Castle Dividend Announcement

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

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Truist Financial lowered their price objective on shares of Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Jefferies Financial Group dropped their price objective on Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Citigroup reiterated a “market outperform” rating on shares of Crown Castle in a report on Friday, July 24th. Finally, Citizens Jmp decreased their target price on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a research note on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $95.13.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. This represents a 22.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.09% of the company’s stock.

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.