Fisher Asset Management LLC Buys 103,153 Shares of Crown Castle Inc. $CCI

Fisher Asset Management LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,452,502 shares of the real estate investment trust’s stock after buying an additional 103,153 shares during the quarter. Fisher Asset Management LLC owned about 1.25% of Crown Castle worth $526,112,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in Crown Castle by 7.5% in the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock valued at $1,714,000 after purchasing an additional 1,150 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of Crown Castle in the second quarter valued at approximately $1,676,000. HBK Sorce Advisory LLC boosted its stake in shares of Crown Castle by 7.5% in the second quarter. HBK Sorce Advisory LLC now owns 2,951 shares of the real estate investment trust’s stock valued at $303,000 after buying an additional 205 shares during the period. Assetmark Inc. grew its position in Crown Castle by 9.8% during the second quarter. Assetmark Inc. now owns 22,912 shares of the real estate investment trust’s stock worth $2,354,000 after buying an additional 2,037 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV grew its position in Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 3.6%

CCI opened at $89.54 on Monday. Crown Castle Inc. has a twelve month low of $77.01 and a twelve month high of $115.76. The company has a fifty day moving average of $87.05 and a 200-day moving average of $91.70. The stock has a market cap of $39.05 billion, a PE ratio of 88.66, a price-to-earnings-growth ratio of 0.45 and a beta of 0.96.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $1.0625 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is 420.79%.

Insider Transactions at Crown Castle

In other news, VP Robert Sean Collins sold 3,000 shares of the business’s stock in a transaction dated 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 directly owned 5,800 shares of the company’s stock, valued at $507,442. The trade was a 34.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’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 value of $401,481.00. Following the sale, the executive vice president directly owned 25,183 shares of the company’s stock, valued at $2,174,300.22. This represents a 15.59% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by insiders.

Analysts Set New Price Targets

CCI has been the topic of several analyst reports. Citigroup reduced their target price on Crown Castle from $110.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. reduced their price target on Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. 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. Jefferies Financial Group cut their price target on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. Finally, Scotiabank lowered their target price on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average target price 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.