Groupama Asset Managment Purchases Shares of 13,165 Crown Castle Inc. $CCI

Groupama Asset Managment acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, Holdings Channel reports. The fund acquired 13,165 shares of the real estate investment trust’s stock, valued at approximately $1,270,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Polar Asset Management Partners Inc. acquired a new stake in Crown Castle in the 3rd quarter worth about $7,500,000. Investment Research Partners LLC acquired a new position in shares of Crown Castle during the 3rd quarter valued at about $312,000. KERR FINANCIAL PLANNING Corp acquired a new position in shares of Crown Castle during the 3rd quarter valued at about $31,000. CIBC Bancorp USA Inc. purchased a new position in shares of Crown Castle during the 3rd quarter worth about $16,841,000. Finally, Coldstream Capital Management Inc. lifted its holdings in shares of Crown Castle by 11.5% during the 3rd quarter. Coldstream Capital Management Inc. now owns 11,289 shares of the real estate investment trust’s stock worth $1,089,000 after acquiring an additional 1,168 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $82.47 on Friday. The company has a market cap of $35.96 billion, a P/E ratio of 81.65, a PEG ratio of 0.43 and a beta of 0.96. Crown Castle Inc. has a one year low of $77.01 and a one year high of $115.76. The business’s 50-day simple moving average is $87.21 and its 200 day simple moving average is $90.45.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders 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 yield of 5.2%. Crown Castle’s dividend payout ratio (DPR) is 420.79%.

Insider Activity at Crown Castle

In related news, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’s stock in a transaction on Wednesday, February 25th. The shares were 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 directly owned 25,183 shares of the company’s stock, valued at approximately $2,174,300.22. This trade represents a 15.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the sale, the vice president owned 5,800 shares of the company’s stock, valued at $507,442. This represents a 34.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. New Street Research downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a report on Monday, January 5th. The Goldman Sachs Group cut their price target on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, February 5th. Wells Fargo & Company decreased their price target on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. UBS Group lowered their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Finally, KeyCorp cut their target price on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.