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Is it Still Safe to Invest in Crown Castle (CCI)?

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ClearBridge Investments, an investment management firm, published its “Global Infrastructure Income Strategy” first quarter 2022 investor letter – a copy of which can be downloaded here. The ClearBridge Global Infrastructure Income Strategy trailed the S&P Global Infrastructure Index, which returned 7.27% for the quarter, while both handily outperformed global equities as measured by the MSCI All Country World Index (-5.36%). Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, ClearBridge Investments Global Infrastructure Income Strategy mentioned Crown Castle International Corp. (NYSE:CCI) and explained its insights for the company. Founded in 1994, Crown Castle International Corp. (NYSE:CCI) is a Houston, Texas-based real estate investment trust and provider with a $79.8 billion market capitalization. Crown Castle International Corp. (NYSE:CCI) delivered a -11.99% return since the beginning of the year, while its 12-month returns are up by 0.29%. The stock closed at $183.71 per share on May 03, 2022.

Here is what ClearBridge Investments Global Infrastructure Income Strategy has to say about Crown Castle International Corp. (NYSE:CCI) in its Q1 2022 investor letter:

"U.S. communications company Crown Castle International (NYSE:CCI) was the largest detractor from quarterly performance. Crown Castle is the leading independent owner and operator of wireless communications infrastructure in the U.S. with a portfolio of approximately 40,000 towers. The stock underperformed as, driven by rising interest rates, investors rotated away from defensive into more value-oriented sectors. Communications infrastructure remains attractive, however, as companies continue to deploy greater capital spend to support the strong tailwinds from 5G."

Africa Studio/Shutterstock.com

Our calculations show that Crown Castle International Corp. (NYSE:CCI) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Crown Castle International Corp. (NYSE:CCI) was in 38 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 45 funds in the previous quarter. Crown Castle International Corp. (NYSE:CCI) delivered a -0.16% return in the past 3 months.

In October 2021, we also shared another hedge fund’s views on Crown Castle International Corp. (NYSE:CCI) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.