Swiss National Bank Has $121.11 Million Holdings in Crown Castle Inc. $CCI

Swiss National Bank trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,255,200 shares of the real estate investment trust’s stock after selling 62,900 shares during the period. Swiss National Bank’s holdings in Crown Castle were worth $121,114,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCI. Winnow Wealth LLC bought a new position in Crown Castle in the 2nd quarter worth approximately $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Crown Castle in the 2nd quarter valued at $27,000. LRI Investments LLC acquired a new stake in shares of Crown Castle in the 3rd quarter valued at $29,000. Cornerstone Planning Group LLC raised its position in shares of Crown Castle by 269.9% during the third quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 278 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Crown Castle during the third quarter worth $44,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $88.52 on Wednesday. The company has a market capitalization of $38.60 billion, a price-to-earnings ratio of 87.64, a P/E/G ratio of 0.45 and a beta of 0.96. The firm’s 50 day simple moving average is $87.34 and its 200 day simple moving average is $91.11. Crown Castle Inc. has a fifty-two week low of $77.01 and a fifty-two week high of $115.76.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s dividend payout ratio (DPR) is currently 420.79%.

Analyst Upgrades and Downgrades

CCI has been the topic of several recent research reports. KeyCorp decreased their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. HSBC reduced their target price on shares of Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Raymond James Financial dropped their price target on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research note on Friday, January 23rd. BMO Capital Markets reduced their price objective on shares of Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Finally, Zacks Research upgraded shares of Crown Castle from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.13.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of the 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 completion of the sale, the vice president directly owned 5,800 shares in the company, valued at $507,442. This represents a 34.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the transaction, the executive vice president owned 25,183 shares in the company, valued at $2,174,300.22. This trade 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 corporate insiders.

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.