Crown Castle Inc. $CCI Shares Purchased by Vestmark Advisory Solutions Inc.

Key Points

• Vestmark Advisory Solutions Inc. increased its holdings in Crown Castle Inc. by 132.0%, acquiring 26,889 additional shares, bringing its total holdings to 47,252 shares valued at approximately $4.93 million.
• Several institutional investors, including Vanguard Group Inc. and Deutsche Bank AG, have also significantly increased their stakes in Crown Castle, with Vanguard now holding over 68 million shares worth more than $7 billion.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, with an annualized yield of 4.2%, despite a negative return on equity of 619.62% for the last quarter.

Vestmark Advisory Solutions Inc. boosted its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 132.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,252 shares of the real estate investment trust's stock after acquiring an additional 26,889 shares during the period. Vestmark Advisory Solutions Inc.'s holdings in Crown Castle were worth $4,925,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Federated Hermes Inc. raised its position in Crown Castle by 210.3% in the fourth quarter. Federated Hermes Inc. now owns 5,961 shares of the real estate investment trust's stock worth $541,000 after acquiring an additional 4,040 shares during the period. Renaissance Technologies LLC bought a new position in shares of Crown Castle in the fourth quarter worth approximately $2,442,000. XTX Topco Ltd bought a new position in Crown Castle during the fourth quarter valued at approximately $424,000. Guggenheim Capital LLC grew its holdings in shares of Crown Castle by 1.8% during the 4th quarter. Guggenheim Capital LLC now owns 79,395 shares of the real estate investment trust's stock valued at $7,206,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Jump Financial LLC grew its position in Crown Castle by 452.6% during the 4th quarter. Jump Financial LLC now owns 35,337 shares of the real estate investment trust's stock worth $3,207,000 after acquiring an additional 28,942 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCI. Barclays cut their price objective on Crown Castle from $121.00 to $119.00 and set an "overweight" rating on the stock in a research report on Monday. 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 report on Thursday, July 24th. JMP Securities reissued a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a report on Thursday, July 24th. Scotiabank raised their target price on Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a report on Friday, July 25th. Finally, Bank of America assumed coverage on Crown Castle in a report on Monday, May 19th. They set a "buy" rating and a $115.00 price target on the stock. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $116.41.

Crown Castle Price Performance

NYSE CCI traded up $1.45 during midday trading on Tuesday, hitting $102.00. 1,266,598 shares of the company traded hands, compared to its average volume of 3,227,859. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market cap of $44.42 billion, a PE ratio of -9.56, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. The company's 50-day simple moving average is $103.59 and its 200-day simple moving average is $100.42.

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 during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period 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, research analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.2%. Crown Castle's payout ratio is presently -39.83%.

About Crown Castle

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.