Colonial Trust Advisors Has $6.73 Million Stake in Crown Castle International Corp. (REIT) (CCI)
Colonial Trust Advisors lifted its holdings in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 26.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,575 shares of the real estate investment trust’s stock after purchasing an additional 12,569 shares during the quarter. Colonial Trust Advisors’ holdings in Crown Castle International were worth $6,725,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Avestar Capital LLC purchased a new position in shares of Crown Castle International during the fourth quarter worth about $112,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Crown Castle International during the fourth quarter worth about $124,000. Icon Wealth Partners LLC purchased a new position in shares of Crown Castle International during the fourth quarter worth about $126,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Crown Castle International by 1,463.5% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 1,083 shares in the last quarter. Finally, Fieldpoint Private Securities LLC purchased a new position in shares of Crown Castle International during the third quarter worth about $137,000. 93.56% of the stock is owned by institutional investors.
Shares of Crown Castle International stock opened at $107.59 on Thursday. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.88. Crown Castle International Corp. has a 12-month low of $90.44 and a 12-month high of $114.97. The firm has a market capitalization of $44,299.99, a P/E ratio of 22.49, a price-to-earnings-growth ratio of 1.34 and a beta of 0.28.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be issued a dividend of $1.05 per share. The ex-dividend date is Thursday, March 15th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.90%. Crown Castle International’s dividend payout ratio is presently 411.77%.
Several brokerages have recently commented on CCI. Goldman Sachs lowered Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 13th. Zacks Investment Research raised Crown Castle International from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Guggenheim reaffirmed a “buy” rating and issued a $115.00 target price on shares of Crown Castle International in a research note on Friday, January 26th. Deutsche Bank reaffirmed a “buy” rating and issued a $120.00 target price on shares of Crown Castle International in a research note on Monday, January 22nd. Finally, KeyCorp upped their target price on Crown Castle International from $106.00 to $114.00 in a research note on Monday, November 27th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $113.33.
In related news, insider Jay A. Brown sold 18,000 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares in the company, valued at $17,622,694.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Jay Simon sold 693 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $108.79, for a total value of $75,391.47. Following the transaction, the senior vice president now owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.
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Crown Castle International Profile
Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).
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