BlackRock Fund Advisors has recently announced that it has increased stake in Crown Castle Inc (NYSE:CCI) by 2.01%. After grabbing 20.95 million shares, the institutional investor is now in possession of 0.41 million shares of the Real Estate Company. The new investment brought the stake of investor firm to 4.83% having worth around $2.41 billion. Moreover, Capital Research & Management Co increased its share by 52291.0 to have a control over 11.88 million shares. And Wellington Management Co. LLP raised its holdings to 1.82 million shares by acquiring 10.13 million shares or 2.34% of the stake.
Crown Castle Inc (CCI) concluded trading on Wednesday at a closing price of $105.56, with 3.2 million shares of worth about $337.45 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -4.50% during that period and On Wednesday, January 24 the price saw a loss of about -2.21%. Currently the company’s common shares owned by public are about 433.00M shares, out of which, 431.84M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 60 times over the past 12 months. They bought 107,723 shares in 46 of the transactions. In 14 selling transactions, insiders dumped 54,834 shares.
Vanguard Real Estate Index Fund, Vanguard Total Stock Market ETF, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Crown Castle Inc Vanguard Real Estate Index Fund is currently holding 17.49 million shares of worth totaling $2.01 billion. The company recently came selling 94180.0 shares which brought its stake up to 4.03% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 11130.0 shares, after which its hold over company’s outstanding shares expand to 3.14%, leaving 13.61 million shares with the mutual fund that have a worth of about $1.57 billion. Vanguard 500 Index Fund, after buying 10.6 million shares, have now control over 2.44% of the stake in the company. It holds 28567.0 shares of worth $1.22 billion.
Stock saw a price change of -2.71% in past 5 days and over the past one month there was a price change of -7.89%. Year-to-date (YTD), CCI shares are showing a performance of -8.36% which decreased to -27.09% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $84.72 but also hit the highest price of $153.98 during that period. The average intraday trading volume for Crown Castle Inc shares is 3.56 million. The stock is currently trading -6.37% below its 20-day simple moving average (SMA20), while that difference is down -4.98% for SMA50 and it goes to -2.42% lower than SMA200.
BlackRock Fund Advisors acquired 20.95 million shares of Crown Castle Inc having value of about $2.41 billion. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.41 million shares in the company valued at close to $43482803.0, or have control over 2.01% stake in the company. Crown Castle Inc (NYSE: CCI) currently have 433.00M outstanding shares and institutions hold larger chunk of about 91.71% of that. Holding of mutual funds in the company is about 40.35% while other institutional holders and individual stake holders have control over 52.06% and 0.82% of the stake respectively.
The stock has a current market capitalization of $45.78B and its 3Y-monthly beta is at 0.75. PE ratio of stock for trailing 12 months is 29.54, while it has posted earnings per share of $3.57 in the same period. It has a debt-to-equity ratio of 4.31. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for CCI, volatility over the week remained 2.33% while standing at 1.93% over the month.
Analysts are in expectations that Crown Castle Inc (CCI) stock would likely to be making an EPS of $0.75 in the current quarter, while forecast for next quarter EPS is $0.71 and it is $2.94 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.65 which is $0.84 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.95 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -16.20% while it is estimated to decrease by -11.31% in next year. EPS is likely to shrink at an annualized rate of -9.67% for next 5-years, compared to annual growth of 30.80% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on January 19, 2024 offering a Market perform rating for the stock and assigned a target price range of between $107 and $110 to it.
