MBB Public Markets I LLC Acquires Shares of 3,034 Crown Castle Inc. $CCI

Key Points

• MBB Public Markets I LLC has acquired 3,034 shares of Crown Castle Inc. for approximately $316,000, reflecting a growing interest among institutional investors as 90.77% of the stock is owned by them.
• Crown Castle reported a quarterly EPS of $1.02, beating analysts' expectations, but experienced a 4.2% decline in revenue year-over-year.
• The company has announced a quarterly dividend of $1.0625 per share, translating to an annualized yield of 4.5%, with a payout ratio currently at -39.83%.

MBB Public Markets I LLC bought a new position in Crown Castle Inc. (NYSE:CCI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,034 shares of the real estate investment trust's stock, valued at approximately $316,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. CWA Asset Management Group LLC increased its stake in shares of Crown Castle by 9.0% during the 1st quarter. CWA Asset Management Group LLC now owns 2,663 shares of the real estate investment trust's stock worth $278,000 after purchasing an additional 219 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Crown Castle by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust's stock worth $3,665,000 after purchasing an additional 4,276 shares during the last quarter. Legacy Advisors LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth approximately $262,000. Everhart Financial Group Inc. purchased a new stake in shares of Crown Castle during the 1st quarter worth approximately $307,000. Finally, Inspire Trust Co. N.A. increased its stake in shares of Crown Castle by 25.0% during the 1st quarter. Inspire Trust Co. N.A. now owns 20,000 shares of the real estate investment trust's stock worth $2,085,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CCI. Scotiabank raised their price target on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. raised their price target on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and set a $124.00 price objective (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. UBS Group raised their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Barclays raised their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the company an "overweight" rating in a research report on Monday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $116.47.

Crown Castle Stock Down 0.3%

Shares of CCI traded down $0.24 during trading hours on Monday, reaching $94.09. 1,289,256 shares of the company traded hands, compared to its average volume of 3,298,665. The company's fifty day moving average price is $102.67 and its two-hundred day moving average price is $101.51. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of -8.80, a price-to-earnings-growth ratio of 0.72 and a beta of 0.92. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, topping the consensus estimate of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. Crown Castle's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. On average, analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.5%. Crown Castle's dividend payout ratio is currently -39.83%.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.