Daiwa Securities Group Inc. Has $356.33 Million Stock Holdings in Crown Castle Inc. $CCI

Daiwa Securities Group Inc. increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,705,219 shares of the real estate investment trust’s stock after acquiring an additional 320,027 shares during the quarter. Crown Castle comprises approximately 0.7% of Daiwa Securities Group Inc.’s investment portfolio, making the stock its 16th biggest holding. Daiwa Securities Group Inc.’s holdings in Crown Castle were worth $356,326,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Retirement Planning Co of New England Inc. increased its stake in Crown Castle by 6.3% in the second quarter. Retirement Planning Co of New England Inc. now owns 10,626 shares of the real estate investment trust’s stock valued at $805,000 after purchasing an additional 629 shares in the last quarter. Rogco LP boosted its position in shares of Crown Castle by 19.9% during the second quarter. Rogco LP now owns 3,942 shares of the real estate investment trust’s stock worth $299,000 after purchasing an additional 654 shares in the last quarter. Waterloo Capital L.P. boosted its position in shares of Crown Castle by 35.0% during the second quarter. Waterloo Capital L.P. now owns 28,530 shares of the real estate investment trust’s stock worth $2,161,000 after purchasing an additional 7,390 shares in the last quarter. Gilliland Jeter Wealth Management LLC grew its holdings in shares of Crown Castle by 3.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 7,090 shares of the real estate investment trust’s stock valued at $537,000 after buying an additional 267 shares during the period. Finally, iA Global Asset Management Inc. acquired a new position in shares of Crown Castle in the 2nd quarter valued at $1,462,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares of the company’s stock, valued at $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.09% of the stock is currently owned by company insiders.

Crown Castle Stock Up 0.2%

Shares of NYSE:CCI opened at $75.91 on Friday. The firm has a market cap of $32.30 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61. The company’s fifty day simple moving average is $79.61 and its 200 day simple moving average is $84.52.

Crown Castle Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently commented on CCI shares. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Wolfe Research cut Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. JPMorgan Chase & Co. lowered their price target on Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. Finally, KeyCorp lifted their price objective on Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $95.13.

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.