Vinva Investment Management Ltd Purchases 46,693 Shares of Crown Castle Inc. $CCI

Key Points

• Vinva Investment Management Ltd boosted its stake in Crown Castle (NYSE:CCI) by 30.9%, buying 46,693 shares to own 197,804 shares worth about $19.03 million per its latest SEC filing.
• Crown Castle announced a quarterly dividend of $1.0625 per share (annualized $4.25, yield 4.7%) with an ex-dividend date of March 13 and payment on March 31, while its dividend payout ratio is a high 420.79%.
• Shares trade near $90.49 (12‑month range $77.01–$115.76); analysts' consensus is a "Moderate Buy" with an average price target of $100.13.

Vinva Investment Management Ltd lifted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 30.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 197,804 shares of the real estate investment trust's stock after buying an additional 46,693 shares during the period. Vinva Investment Management Ltd's holdings in Crown Castle were worth $19,027,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Foresight Group Ltd Liability Partnership grew its stake in shares of Crown Castle by 25.8% during the third quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust's stock worth $9,950,000 after acquiring an additional 21,194 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Crown Castle by 15.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust's stock valued at $6,847,000 after purchasing an additional 9,552 shares during the last quarter. Country Club Bank raised its position in shares of Crown Castle by 20.1% in the 3rd quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust's stock valued at $6,808,000 after purchasing an additional 11,851 shares during the last quarter. Cooke & Bieler LP boosted its stake in Crown Castle by 6.1% in the 3rd quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust's stock worth $233,413,000 after purchasing an additional 138,061 shares in the last quarter. Finally, National Pension Service boosted its stake in Crown Castle by 3.5% in the 3rd quarter. National Pension Service now owns 656,795 shares of the real estate investment trust's stock worth $63,374,000 after purchasing an additional 21,986 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.4%

Shares of NYSE CCI opened at $90.49 on Friday. Crown Castle Inc. has a 12 month low of $77.01 and a 12 month high of $115.76. The company has a 50 day simple moving average of $87.33 and a two-hundred day simple moving average of $91.39. The stock has a market cap of $39.46 billion, a price-to-earnings ratio of 89.59, a PEG ratio of 0.46 and a beta of 0.96.

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 issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle's dividend payout ratio (DPR) is 420.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCI. Wolfe Research lowered shares of Crown Castle from a "strong-buy" rating to a "hold" rating in a research note on Friday, February 6th. HSBC lowered their price objective on shares of Crown Castle from $107.00 to $88.40 and set a "hold" rating for the company in a research note on Thursday, February 5th. UBS Group dropped their price objective on shares of Crown Castle from $116.00 to $105.00 and set a "buy" rating on the stock in a report on Thursday, February 5th. Jefferies Financial Group cut their target price on Crown Castle from $90.00 to $84.00 and set a "buy" rating on the stock in a research report on Wednesday, February 4th. Finally, BMO Capital Markets reduced their target price on Crown Castle from $97.00 to $91.00 and set an "outperform" rating for the company in a research note on Thursday, February 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, Crown Castle has an average rating of "Moderate Buy" and an average price target of $100.13.

Insiders Place Their Bets

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the company's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the sale, the executive vice president directly owned 25,183 shares of the company's stock, valued at approximately $2,174,300.22. This represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company's stock.

Crown Castle Company 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.

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