Swiss Life Asset Management Ltd Has $8.56 Million Stock Holdings in Crown Castle Inc. $CCI

Swiss Life Asset Management Ltd boosted its stake in Crown Castle Inc. (NYSE:CCI) by 15.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 88,679 shares of the real estate investment trust’s stock after buying an additional 11,858 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Crown Castle were worth $8,557,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CCI. Norges Bank purchased a new position in shares of Crown Castle during the 2nd quarter valued at $629,431,000. Lazard Asset Management LLC increased its stake in shares of Crown Castle by 3,051.5% in the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after acquiring an additional 5,299,155 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Crown Castle by 591.8% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock worth $431,418,000 after acquiring an additional 3,824,778 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Crown Castle by 33.2% during the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock worth $621,172,000 after acquiring an additional 1,605,291 shares in the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Crown Castle during the third quarter valued at $121,726,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE CCI opened at $82.47 on Friday. Crown Castle Inc. has a fifty-two week low of $77.01 and a fifty-two week high of $115.76. The stock’s 50-day moving average is $87.21 and its two-hundred day moving average is $90.45. The firm has a market cap of $35.96 billion, a P/E ratio of 81.65, a price-to-earnings-growth ratio of 0.43 and a beta of 0.96.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $1.0625 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.2%. Crown Castle’s dividend payout ratio is currently 420.79%.

Insider Buying and Selling

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the sale, the executive vice president owned 25,183 shares of the company’s stock, valued at $2,174,300.22. This represents a 15.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were 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 in the company, valued at approximately $507,442. This trade represents a 34.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. KeyCorp lowered their target price on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Wells Fargo & Company cut their price target on Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Barclays reduced their price target on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, February 17th. Royal Bank Of Canada lowered their price target on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Finally, UBS Group dropped their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $100.13.

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.