Ken Fisher’s 5 New Purchases/Additions

2. Crown Castle Inc. (NYSE:CCI)

Percentage Increase in Stake in Q4: 54%

Crown Castle Inc. (NYSE:CCI), a communications infrastructure REIT, owns, manages, and rents over 40,000 cell towers and about 80,000 route miles of fibre in every major US market to enable small cells and fibre solutions.

Fisher Asset Management elevated its position in Crown Castle Inc. (NYSE:CCI) by 54% in Q4 2022, holding more than 4.62 million shares worth over $626.66 million. The stock accounts for 0.42% of the fund’s total 13F portfolio. Michael Larson’s Bill & Melinda Gates Foundation Trust is the company’s most significant stakeholder, with 1.42 million shares worth $192.62 billion.

On January 31, RBC Capital analyst Jonathan Atkin maintained an ‘Outperform’ rating and boosted his price objective on Crown Castle Inc. (NYSE:CCI) from $150 to $162. Tower site leasing revenue and small cell/fibre leasing income surpassing expectations contributed to the company’s “excellent” Q4 profits, the analyst informed investors in a research note.

In its fourth quarter 2022 investor letter, Cooper Investors mentioned Crown Castle Inc. (NYSE:CCI). Here is what the fund said:

“Given that we still really like towers as a defensive exposure to data growth we have recycled the capital from Vantage into Crown Castle Inc. (NYSE:CCI), a US-focused towers business with clear value latencies.…” (Click here to read the full text)