BlackRock Fund Advisors recently announced the acquisition of new stake in Crown Castle Inc (NYSE:CCI). The institutional investor has increased its shareholding in the Real Estate company by 2.01% to 20.95 million shares with purchase of 0.41 million shares. This fresh investment now brings its stake to 4.83% valued currently at $2.46 billion. In addition, Capital Research & Management Co raised its holdings by 52291.0 to 11.88 million shares. And Wellington Management Co. LLP has lifted its position by 21.87% or 1.82 million shares – to 10.13 million shares.
Currently, there are 433.00M common shares owned by the public and among those 431.84M shares have been available to trade.
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Insiders at the company have transacted a total of 60 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 46 of these insider trades were purchases, accounting for 107,723 shares. Insider sales of the common stock occurred on 14 occasions, with total insider shares sold totaling 54,834 shares.
The top 3 mutual fund holders in Crown Castle Inc are Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund. Vanguard Real Estate Index Fund owns 17.87 million shares of the company’s stock, all valued at over $2.1 billion. The company sold -0.13 million shares recently to bring their total holdings to about 4.12% of the shares outstanding. Vanguard Total Stock Market ETF bought 70636.0 shares to see its total holdings expand to 13.58 million shares valued at over $1.59 billion and representing 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 53180.0 shares to bring its total holdings to over 10.48 million shares at a value of $1.23 billion. Vanguard 500 Index Fund now owns shares totaling to 2.42% of the shares outstanding.
However, the script later moved the day high at 114.70, up 1.40%. The company’s stock has a 5-day price change of 0.02% and 17.83% over the past three months. CCI shares are trading -15.96% year to date (YTD), with the 12-month market performance down to -15.42% lower. It has a 12-month low price of $84.72 and touched a high of $153.98 over the same period. CCI has an average intraday trading volume of 3.96 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.01%, 12.14%, and 3.49% respectively.
Institutional ownership of Crown Castle Inc (NYSE: CCI) shares accounts for 91.97% of the company’s 433.00M shares outstanding. Mutual fund holders own 40.31%, while other institutional holders and individual stakeholders account for 52.37% and 0.82% respectively.
It has a market capitalization of $49.44B and a beta (3y monthly) value of 0.76. The stock’s trailing 12-month PE ratio is 31.90, while the earnings-per-share (ttm) stands at $3.57. The company has a debt-to-equity ratio at 4.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.68% over the week and 2.35% over the month.
Analysts forecast that Crown Castle Inc (CCI) will achieve an EPS of $0.76 for the current quarter, $0.71 for the next quarter and $2.89 for 2024. The lowest estimate earnings-per-share for the quarter is $0.65 while analysts give the company a high EPS estimate of $0.84. Comparatively, EPS for the current quarter was $0.95 a year ago. Earnings per share for the fiscal year are expected to decrease by -12.53%, and -14.48% over the next financial year. EPS should shrink at an annualized rate of -10.03% over the next five years, compared to 30.80% over the past 5-year period.
Looking at the support for the CCI, a number of firms have released research notes about the stock. HSBC Securities stated their Hold rating for the stock in a research note on December 14, 2023, with the firm’s price target at $110.
