Mitsubishi UFJ Asset Management Co. Ltd. Has $84.25 Million Position in Crown Castle Inc. $CCI

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Crown Castle Inc. (NYSE:CCI) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 873,116 shares of the real estate investment trust’s stock after acquiring an additional 33,831 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.20% of Crown Castle worth $84,247,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CCI. Norges Bank bought a new stake in Crown Castle in the 2nd quarter valued at $629,431,000. Lazard Asset Management LLC lifted its holdings in shares of Crown Castle by 3,051.5% during 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 buying an additional 5,299,155 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of Crown Castle in the third quarter valued at about $121,726,000. JPMorgan Chase & Co. grew its stake in shares of Crown Castle by 33.9% in the second quarter. JPMorgan Chase & Co. now owns 3,657,030 shares of the real estate investment trust’s stock valued at $375,697,000 after acquiring an additional 926,721 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Crown Castle by 15,241.9% during the second quarter. Canada Pension Plan Investment Board now owns 757,891 shares of the real estate investment trust’s stock worth $77,858,000 after acquiring an additional 752,951 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on CCI shares. KeyCorp decreased their target price on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. Scotiabank cut their price target on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research note on Thursday, February 5th. HSBC lowered their price objective on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a research note on Thursday, February 5th. Zacks Research lowered Crown Castle from a “hold” rating to a “strong sell” rating in a report on Friday, January 30th. Finally, JPMorgan Chase & Co. decreased their price target on Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock 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 issued a Sell rating to the stock. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $100.02.

Crown Castle Stock Performance

Shares of CCI stock opened at $89.54 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 fifty day moving average price is $87.05 and its two-hundred day moving average price is $91.85. The company has a market cap of $39.05 billion, a PE ratio of 88.66, a P/E/G ratio of 0.44 and a beta of 0.96.

Crown Castle Dividend Announcement

The firm also recently announced 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. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, March 13th. Crown Castle’s payout ratio is currently 420.79%.

Insider Activity

In other news, VP Robert Sean Collins sold 3,000 shares of the 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 completion of the transaction, the vice president owned 5,800 shares of the company’s stock, valued at approximately $507,442. This represents a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 owned 25,183 shares in the company, valued at approximately $2,174,300.22. The trade was a 15.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is currently owned by 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.