Crown Castle International Corp, one of the top tech holdings in the Bill and Melinda Gates Foundation, has soared in 2019. As the owner of the largest cellular communication infrastructure in the U.S., Crown Castle reported strong Q2 results and upped its 2019 guidance.
www.profitconfidential.com
Crown Castle International Corp. (NYSE:CCI) shares have been having a great run in 2019, advancing 34.3% year-to-date and 16% since the company reported its second-quarter results in mid-July.
One investor who has done well with CCI stock in 2019 is Bill Gates, co-founder of
Microsoft (NASDAQ:MSFT).
Through the Bill and Melinda Gates Foundation, Gates purchased 5.3 million Crown Castle shares. It’s the foundation’s second-largest tech holding next to Microsoft. At the time, those shares were valued at about $593.7 million. (Source: “
Form 13-F,” U.S. Securities and Exchange Commission, last accessed August 22, 2019.)
The foundation’s latest filing shows that it still held those Crown Castle shares, except by then the shares were worth $695.1 million. (Source: “
Form 13-F, “U.S. Securities and Exchange Commission, August 14, 2019.)
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What has fueled those market-thumping results? Crown Castle has been reporting strong financial results and the company has raised its full-year guidance.
Despite Crown Castle stock’s strong gains, broader industry turmoil, and fears of a stock market correction, the Bill and Melinda Gates Foundation continues to have faith in the future of Crown Castle.
Crown Castle International Corp. Overview
Crown Castle is a real estate investment trust (REIT) that owns, operates, and leases out more than 40,000 cell towers, 65,000 small cell nodes (essential for 5G), and 75,000 route miles of fiber—in every major U.S. market. (Source: “
Our Infrastructure,” Crown Castle International Corp., last accessed August 22, 2019.)
As more and more wireless technologies come online, CCI’s towers, small cells, and fiber will make these ground-breaking technologies a reality.
The company’s shared economic model and infrastructure is able to support numerous customers at the same time. The company’s clients include wireless carriers, technology companies, broadband providers, and municipalities.