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

Fisher Asset Management LLC increased its position in Crown Castle Inc. (NYSE:CCI) by 1.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 5,452,502 shares of the real estate investment trust’s stock after purchasing an additional 103,153 shares during the period. Fisher Asset Management LLC’s holdings in Crown Castle were worth $526,112,000 as of its most recent filing with the SEC.

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

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the 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 completion of the sale, the executive vice president owned 25,183 shares in the company, valued at approximately $2,174,300.22. This trade represents a 15.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were 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 in the company, valued at $507,442. This trade 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 insiders.

Crown Castle Stock Up 3.6%

Shares of CCI opened at $89.54 on Monday. The stock has a market capitalization of $39.05 billion, a P/E ratio of 88.66, a PEG ratio of 0.45 and a beta of 0.96. Crown Castle Inc. has a twelve month low of $77.01 and a twelve month high of $115.76. The firm has a fifty day simple moving average of $87.05 and a two-hundred day simple moving average of $91.70.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid 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 presently 420.79%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group lowered their price objective on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Raymond James Financial lowered their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a report on Friday, January 23rd. Barclays cut their price objective on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 17th. New Street Research cut shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 5th. Finally, Wall Street Zen downgraded shares of Crown Castle from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.02.

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.