Swiss Life Asset Management Ltd Acquires 21,054 Shares of Crown Castle Inc. $CCI

Key Points

• Swiss Life Asset Management increased its Crown Castle stake by 21.3% in the second quarter, purchasing 21,054 shares and bringing its total holdings to 119,868 shares valued at approximately $9.08 million.
• Analysts have a mixed but generally positive view of CCI, with ratings ranging from “Hold” to “Market Outperform.” MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $95.13.
• Crown Castle announced a quarterly dividend of $1.0625 per share, or $4.25 annualized, representing a 5.6% yield. The dividend payout ratio is high at 215.74%, while shares recently traded at $75.75.

Swiss Life Asset Management Ltd boosted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 21.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 119,868 shares of the real estate investment trust's stock after buying an additional 21,054 shares during the period. Swiss Life Asset Management Ltd's holdings in Crown Castle were worth $9,078,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle in the third quarter worth $29,000. Hilton Head Capital Partners LLC raised its stake in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 134 shares during the last quarter. Triumph Capital Management acquired a new position in Crown Castle during the 3rd quarter valued at $31,000. Global Assets Advisory LLC bought a new stake in Crown Castle in the 1st quarter valued at $32,000. Finally, Salomon & Ludwin LLC boosted its holdings in Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 215 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on CCI. Weiss Ratings restated a "hold (c-)" rating on shares of Crown Castle in a report on Friday, May 22nd. Citizens Jmp decreased their target price on Crown Castle from $125.00 to $120.00 and set a "market outperform" rating on the stock in a research report on Friday, July 24th. Royal Bank Of Canada decreased their target price on Crown Castle from $92.00 to $90.00 and set an "outperform" rating on the stock in a research report on Thursday, July 23rd. JPMorgan Chase & Co. lowered their price target on Crown Castle from $95.00 to $85.00 and set a "neutral" rating on the stock in a research note on Thursday, July 23rd. Finally, Truist Financial cut their price target on Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $95.13.

Crown Castle Stock Up 2.4%

NYSE CCI opened at $75.75 on Friday. The stock has a market cap of $32.23 billion, a P/E ratio of 38.45, a PEG ratio of 0.39 and a beta of 0.95. The company's 50-day simple moving average is $79.98 and its 200 day simple moving average is $84.58. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $104.61.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. Crown Castle's dividend payout ratio (DPR) is 215.74%.

Insider Transactions at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president directly owned 5,113 shares of the company's stock, valued at $388,025.57. This trade represents a 22.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% 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.

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