ANTIPODES PARTNERS Ltd Makes New Investment in Crown Castle Inc. $CCI

ANTIPODES PARTNERS Ltd acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,261,442 shares of the real estate investment trust’s stock, valued at approximately $121,726,000. Crown Castle makes up about 2.7% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 14th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the company. Foresight Group Ltd Liability Partnership lifted its holdings in shares of Crown Castle by 25.8% during the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after acquiring an additional 21,194 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in Crown Castle by 15.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock worth $6,847,000 after purchasing an additional 9,552 shares in the last quarter. Country Club Bank increased its position in Crown Castle by 20.1% during the 3rd quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after purchasing an additional 11,851 shares in the last quarter. Cooke & Bieler LP raised its holdings in Crown Castle by 6.1% in the third quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust’s stock valued at $233,413,000 after buying an additional 138,061 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new position in Crown Castle during the third quarter valued at approximately $2,578,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.8%

Shares of NYSE CCI opened at $88.02 on Friday. Crown Castle Inc. has a 12-month low of $77.01 and a 12-month high of $115.76. The company has a market cap of $38.33 billion, a price-to-earnings ratio of 87.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96. The stock’s 50 day simple moving average is $87.06 and its 200 day simple moving average is $92.45.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CCI. The Goldman Sachs Group dropped their price objective on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. KeyCorp lowered their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. UBS Group reduced their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Barclays decreased their target price on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company dropped their target price on Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $100.02.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.