NewEdge Advisors LLC Has $2.91 Million Position in Crown Castle Inc. $CCI

Key Points

• NewEdge Advisors LLC significantly increased its investment in Crown Castle Inc. (CCI) by 196.6%, acquiring a total of 27,907 shares valued at approximately $2.91 million.
• Crown Castle reported earnings of $1.02 per share for the latest quarter, exceeding analyst expectations by $0.02, but experienced a 4.2% decline in year-over-year revenue.
• The company declared a quarterly dividend of $1.0625 per share, which translates to an annualized dividend yield of 4.5%.

NewEdge Advisors LLC raised its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 196.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,907 shares of the real estate investment trust's stock after purchasing an additional 18,498 shares during the quarter. NewEdge Advisors LLC's holdings in Crown Castle were worth $2,909,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CCI. Vanguard Group Inc. lifted its stake in Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust's stock worth $7,175,256,000 after acquiring an additional 6,341,150 shares in the last quarter. Nuveen LLC purchased a new stake in Crown Castle in the 1st quarter worth about $305,876,000. Deutsche Bank AG lifted its stake in Crown Castle by 60.9% in the 1st quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust's stock worth $570,443,000 after acquiring an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Crown Castle by 144.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust's stock worth $357,834,000 after acquiring an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in Crown Castle in the 1st quarter worth about $149,661,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Down 0.6%

Shares of NYSE:CCI opened at $93.97 on Thursday. The stock has a market capitalization of $40.92 billion, a PE ratio of -8.81, a P/E/G ratio of 0.72 and a beta of 0.92. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a fifty day moving average price of $102.97 and a 200 day moving average price of $101.35.

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

Crown Castle Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. KeyCorp increased their price objective on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. increased their price objective on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Barclays reduced their price objective on Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research note on Monday, August 18th. Finally, UBS Group raised their price target on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $116.41.

Crown Castle 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.

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