LDR Capital Management LLC Has $4.18 Million Stake in Crown Castle Inc. $CCI

LDR Capital Management LLC grew its position in Crown Castle Inc. (NYSE:CCI) by 317.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,072 shares of the real estate investment trust’s stock after acquiring an additional 35,787 shares during the quarter. Crown Castle accounts for about 5.8% of LDR Capital Management LLC’s holdings, making the stock its 4th largest position. LDR Capital Management LLC’s holdings in Crown Castle were worth $4,183,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Foresight Group Ltd Liability Partnership lifted its position in shares of Crown Castle by 25.8% during the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after buying an additional 21,194 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Crown Castle by 15.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock worth $6,847,000 after buying an additional 9,552 shares during the period. Country Club Bank lifted its position in shares of Crown Castle by 20.1% during the 3rd quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock worth $6,808,000 after buying an additional 11,851 shares during the period. Cooke & Bieler LP lifted its position in shares of Crown Castle by 6.1% during 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 buying an additional 138,061 shares during the period. Finally, National Pension Service lifted its position in shares of Crown Castle by 3.5% during the 3rd quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock worth $63,374,000 after buying an additional 21,986 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.4%

CCI stock opened at $86.69 on Friday. The company has a market cap of $37.83 billion, a P/E ratio of 85.83, a PEG ratio of 0.43 and a beta of 0.94. Crown Castle Inc. has a twelve month low of $75.96 and a twelve month high of $115.76. The business has a fifty day moving average of $85.68 and a 200-day moving average of $89.21.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. Crown Castle’s payout ratio is presently 420.79%.

Insiders Place Their Bets

In related news, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle 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 sale, the executive vice president directly owned 25,183 shares of the company’s stock, valued at $2,174,300.22. The trade was a 15.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Robert Sean Collins sold 3,000 shares of Crown Castle 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 sale, 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 disclosure for this sale is available in the SEC filing. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCI. Sanford C. Bernstein assumed coverage on Crown Castle in a research report on Thursday, March 5th. They set an “outperform” rating and a $102.00 target price for the company. Raymond James Financial cut their price objective on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. Truist Financial assumed coverage on Crown Castle in a research report on Tuesday, March 31st. They issued a “hold” rating and a $90.00 price objective for the company. Citigroup cut their price objective on Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Finally, KeyCorp cut their price objective on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.13.

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.