Capital International Investors Invests $75.46 Million in Crown Castle Inc. $CCI

Capital International Investors acquired a new stake in Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 782,096 shares of the real estate investment trust’s stock, valued at approximately $75,464,000.

Other hedge funds have also recently bought and sold shares of the company. Empowered Funds LLC lifted its position in shares of Crown Castle by 7.5% during the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Crown Castle by 14.2% in the second quarter. Savant Capital LLC now owns 5,429 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 675 shares in the last quarter. AE Wealth Management LLC grew its holdings in shares of Crown Castle by 6.0% in the second quarter. AE Wealth Management LLC now owns 7,193 shares of the real estate investment trust’s stock valued at $739,000 after purchasing an additional 406 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in Crown Castle by 6.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 2,283 shares of the real estate investment trust’s stock worth $235,000 after buying an additional 145 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Crown Castle during the 2nd quarter worth approximately $641,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 1.1%

NYSE CCI opened at $87.55 on Thursday. Crown Castle Inc. has a 52 week low of $77.01 and a 52 week high of $115.76. The firm has a 50 day moving average of $87.31 and a two-hundred day moving average of $91.08. The stock has a market capitalization of $38.18 billion, a PE ratio of 86.68, a price-to-earnings-growth ratio of 0.45 and a beta of 0.96.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $1.0625 per share. The ex-dividend date is Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. Crown Castle’s payout ratio is presently 420.79%.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Sean Collins sold 3,000 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $87.49, for a total value of $262,470.00. Following the transaction, the vice president owned 5,800 shares of the company’s stock, valued at $507,442. This represents a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the sale, the executive vice president owned 25,183 shares in the company, valued at approximately $2,174,300.22. This represents a 15.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. UBS Group decreased their price target on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. HSBC cut their price objective on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a research report on Thursday, February 5th. KeyCorp decreased their target price on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Jefferies Financial Group lowered their target price on Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Finally, New Street Research downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.13.

Crown Castle Profile

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.