Vident Advisory LLC Purchases 15,456 Shares of Crown Castle Inc. $CCI

Key Points

• Vident Advisory LLC increased its stake in Crown Castle Inc. by 237.8%, resulting in a total of $2.29 million in holdings.
• Crown Castle's stock saw multiple analyst upgrades recently, with price targets rising to as high as $125.00 from analysts such as Wells Fargo and JMP Securities.
• The company reported a quarterly EPS of $1.02, exceeding expectations, but experienced a 4.2% decline in revenue year-over-year.

Vident Advisory LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 237.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,956 shares of the real estate investment trust's stock after purchasing an additional 15,456 shares during the quarter. Vident Advisory LLC's holdings in Crown Castle were worth $2,289,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of CCI. Opal Wealth Advisors LLC bought a new stake in Crown Castle during the first quarter worth $26,000. Iron Horse Wealth Management LLC acquired a new position in shares of Crown Castle in the 1st quarter worth approximately $26,000. Centerpoint Advisors LLC bought a new stake in Crown Castle during the first quarter valued at $26,000. Stone House Investment Management LLC acquired a new stake in Crown Castle during the first quarter worth approximately $27,000. Finally, American National Bank & Trust bought a new stake in shares of Crown Castle in the 1st quarter valued at $29,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.5%

CCI traded up $0.46 during trading hours on Friday, hitting $95.92. The stock had a trading volume of 5,239,376 shares, compared to its average volume of 3,250,311. The company's fifty day simple moving average is $103.52 and its 200 day simple moving average is $101.43. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a market cap of $41.77 billion, a PE ratio of -8.99, a price-to-earnings-growth ratio of 0.73 and a beta of 0.92.

Crown Castle (NYSE:CCI - Get Free Report) last released 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. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm earned $1.62 EPS. 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. As a group, equities analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

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 dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 15th. Crown Castle's payout ratio is presently -39.83%.

Analysts Set New Price Targets

Several analysts have recently commented on CCI shares. UBS Group raised their target price on Crown Castle from $124.00 to $127.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $105.00 to $125.00 in a report on Thursday, July 24th. Bank of America started coverage on Crown Castle in a report on Monday, May 19th. They issued a "buy" rating and a $115.00 target price on the stock. Barclays reduced their price target on shares of Crown Castle from $121.00 to $119.00 and set an "overweight" rating for the company in a research report on Monday, August 18th. Finally, KeyCorp raised their price objective on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.