Waterloo Capital L.P. increased its holdings in Crown Castle Inc. (NYSE:CCI – Free Report) by 35.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 28,530 shares of the real estate investment trust’s stock after buying an additional 7,390 shares during the quarter. Waterloo Capital L.P.’s holdings in Crown Castle were worth $2,161,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Crown Castle by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock valued at $6,200,406,000 after acquiring an additional 386,733 shares during the period. Cohen & Steers Inc. grew its stake in shares of Crown Castle by 11.0% in the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after acquiring an additional 3,953,685 shares during the period. State Street Corp raised its holdings in shares of Crown Castle by 2.4% during the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock valued at $1,976,430,000 after purchasing an additional 511,018 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Crown Castle by 2.8% during the fourth quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock valued at $1,243,012,000 after purchasing an additional 380,419 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its position in Crown Castle by 15.7% during the first quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust’s stock valued at $1,094,691,000 after purchasing an additional 1,828,065 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.
Crown Castle Trading Up 2.4%
Shares of NYSE CCI opened at $75.75 on Friday. The firm has a 50 day moving average of $79.98 and a 200 day moving average of $84.58. The firm has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. Crown Castle Inc. has a 12-month low of $69.72 and a 12-month high of $104.61.
Crown Castle Dividend Announcement
Analyst Upgrades and Downgrades
CCI has been the topic of several research reports. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Raymond James Financial increased their price target on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a report on Thursday, April 23rd. Wolfe Research downgraded Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. KeyCorp lifted their price objective on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. Two 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. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus price target of $95.13.
Read Our Latest Analysis on Crown Castle
Insider Activity at Crown Castle
In related news, VP Robert Sean Collins sold 1,500 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total value of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.09% of the stock is owned by company insiders.
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.
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