Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 6.24% in the fourth quarter, compared to a 7.08% return for the benchmark MSCI ACWI. For the year 2022, the fund returned -24.69% compared to a -17.71% return for its benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Cooper Investors highlighted stocks like Crown Castle Inc. (NYSE:CCI) in the fourth quarter 2022 investor letter. Crown Castle Inc. (NYSE:CCI) engages in cell towers business that owns, operates, and leases towers. On January 18, 2023, Crown Castle Inc. (NYSE:CCI) stock closed at $145.25 per share. One-month return of Crown Castle Inc. (NYSE:CCI) was 7.12%, and its shares lost 20.04% of their value over the last 52 weeks. Crown Castle Inc. (NYSE:CCI) has a market capitalization of $62.9 billion.
Cooper Investors made the following comment about Crown Castle Inc. (NYSE:CCI) in its Q4 2022 investor letter:
“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.
Crown Castle owns and rents out a network of 40,000 towers, 115,000 small cells and 85,000 miles of fibre across the US. Customer carriers Verizon, AT&T and T-Mobile utilise and share this critical infrastructure to operate their mobile networks and expand their capabilities. A stable US$7bn a year rental stream is underpinned by an ever-growing demand for mobile data which is projected to grow at 25% per annum to 2027. As data demand grows, capacity must grow to accommodate it which in turn requires a higher density network leading to structural growth in the number of cell sites…” (Click here to read the full text)
EvgeniiAnd/Shutterstock.com
Crown Castle Inc. (NYSE:CCI) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. Per our database, 48 hedge fund portfolios held Crown Castle Inc. (NYSE:CCI) at the end of the third quarter, and 48 in the previous quarter.
We discussed Crown Castle Inc. (NYSE:CCI) in another article and shared the best cheap stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 9 Famous Pyramid Schemes in US History
- 12 Best DRIP Stocks To Own
- 13 Best Communication Services Stocks To Invest In
Disclosure: None. This article is originally published at Insider Monkey.
