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

Groupama Asset Managment acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 13,165 shares of the real estate investment trust’s stock, valued at approximately $1,270,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its holdings in Crown Castle by 1.2% during the third quarter. State Street Corp now owns 21,728,541 shares of the real estate investment trust’s stock worth $2,096,587,000 after purchasing an additional 266,963 shares in the last quarter. Invesco Ltd. boosted its holdings in Crown Castle by 33.2% in the 3rd quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after purchasing an additional 1,605,291 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Crown Castle by 3.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,185,915 shares of the real estate investment trust’s stock valued at $596,876,000 after purchasing an additional 177,896 shares in the last quarter. Norges Bank acquired a new position in Crown Castle during the 2nd quarter worth approximately $629,431,000. Finally, Legal & General Group Plc increased its position in Crown Castle by 4.3% during the 3rd quarter. Legal & General Group Plc now owns 5,621,490 shares of the real estate investment trust’s stock worth $542,418,000 after purchasing an additional 232,549 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on CCI shares. Wells Fargo & Company reduced their price target on Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Raymond James Financial dropped their price objective on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a report on Friday, January 23rd. HSBC cut their price objective on Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research report on Thursday, February 5th. Jefferies Financial Group decreased their target price on shares of 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, KeyCorp cut their price target on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $100.13.

Insiders Place Their Bets

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert Sean Collins sold 3,000 shares of the business’s stock in a transaction on Friday, February 27th. The stock was 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 directly owned 5,800 shares of the company’s stock, valued at approximately $507,442. This trade represents a 34.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is currently owned by corporate insiders.

Crown Castle Price Performance

CCI stock opened at $82.47 on Friday. The company’s 50 day simple moving average is $87.21 and its 200-day simple moving average is $90.45. Crown Castle Inc. has a 12 month low of $77.01 and a 12 month high of $115.76. The firm has a market capitalization of $35.96 billion, a PE ratio of 81.65, a P/E/G ratio of 0.43 and a beta of 0.96.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Friday, March 13th. Crown Castle’s dividend payout ratio is 420.79%.

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.