Swiss Life Asset Management Ltd Acquires 21,054 Shares of Crown Castle Inc. $CCI

Swiss Life Asset Management Ltd grew its holdings in Crown Castle Inc. (NYSE:CCI) by 21.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 119,868 shares of the real estate investment trust’s stock after purchasing an additional 21,054 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Crown Castle were worth $9,078,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle in the third quarter valued at $29,000. Hilton Head Capital Partners LLC lifted its position in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 134 shares in the last quarter. Triumph Capital Management bought a new stake in Crown Castle during the 3rd quarter worth about $31,000. Global Assets Advisory LLC bought a new stake in Crown Castle during the 1st quarter worth about $32,000. Finally, Salomon & Ludwin LLC increased its position in Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 215 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wolfe Research downgraded shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Citigroup restated a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. Raymond James Financial upped their price objective on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 23rd. Finally, TD Cowen decreased their price objective on Crown Castle from $94.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $95.13.

Crown Castle Price Performance

CCI opened at $75.75 on Friday. The company has a market cap of $32.23 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. The firm has a 50 day simple moving average of $79.98 and a 200 day simple moving average of $84.58. Crown Castle Inc. has a fifty-two week low of $69.72 and a fifty-two week high of $104.61.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Crown Castle’s payout ratio is currently 215.74%.

Insider Activity at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 1,500 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the sale, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. The trade was a 22.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.09% of the company’s stock.

Crown Castle Company 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.