Vanderbilt University Sells 17,913 Shares of Crown Castle Inc. $CCI

Key Points

• Vanderbilt University reduced its holdings in Crown Castle Inc. by 59%, selling 17,913 shares and now owning 12,470 shares worth approximately $1.28 million.
• Analysts have recently raised their price targets for Crown Castle, with JPMorgan setting a new target at $120 and Raymond James at $124, indicating a general consensus of a "Moderate Buy" with an average target of $115.76.
• Crown Castle announced a quarterly dividend of $1.0625 per share, reflecting an annualized dividend of $4.25 and a yield of 4.4%, despite a negative return on equity of 619.62%.

Vanderbilt University lessened its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 59.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,470 shares of the real estate investment trust's stock after selling 17,913 shares during the quarter. Vanderbilt University's holdings in Crown Castle were worth $1,281,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Crown Castle by 10.1% during 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 during the last quarter. Nuveen LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at approximately $305,876,000. Deutsche Bank AG increased its stake in Crown Castle by 60.9% during 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 purchasing an additional 2,072,198 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Crown Castle by 144.5% during 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 purchasing an additional 2,028,718 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in Crown Castle during the 1st quarter worth approximately $149,661,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 0.2%

NYSE:CCI opened at $95.53 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.89. The firm has a fifty day simple moving average of $99.68 and a 200 day simple moving average of $101.21. The stock has a market capitalization of $41.60 billion, a PE ratio of -8.95, a P/E/G ratio of 0.73 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $1.62 EPS. The company's quarterly revenue 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, equities analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were issued a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.4%. Crown Castle's dividend payout ratio (DPR) is currently -39.83%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CCI shares. JPMorgan Chase & Co. increased their target price on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. 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. Wall Street Zen raised shares of Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price target (up from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Finally, KeyCorp decreased their price target on shares of Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, September 17th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.76.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.