Arizona State Retirement System decreased its stake in Crown Castle International Corporation (NYSE:CCI) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 137,340 shares of the real estate investment trust’s stock after selling 5,000 shares during the period. Arizona State Retirement System’s holdings in Crown Castle International Corporation were worth $13,759,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Middleton & Co Inc MA purchased a new position in Crown Castle International Corporation during the first quarter valued at approximately $209,000. Nisa Investment Advisors LLC raised its position in Crown Castle International Corporation by 59.6% in the first quarter. Nisa Investment Advisors LLC now owns 107,490 shares of the real estate investment trust’s stock valued at $10,152,000 after buying an additional 40,125 shares in the last quarter. Bank of The West raised its position in Crown Castle International Corporation by 0.7% in the first quarter. Bank of The West now owns 5,720 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 42 shares in the last quarter. DnB Asset Management AS raised its position in Crown Castle International Corporation by 28.7% in the first quarter. DnB Asset Management AS now owns 37,648 shares of the real estate investment trust’s stock valued at $3,556,000 after buying an additional 8,400 shares in the last quarter. Finally, National Investment Services Inc. WI raised its position in Crown Castle International Corporation by 22.2% in the first quarter. National Investment Services Inc. WI now owns 23,161 shares of the real estate investment trust’s stock valued at $2,188,000 after buying an additional 4,207 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Crown Castle International Corporation (CCI) opened at 100.71 on Friday. The stock has a market cap of $40.92 billion, a price-to-earnings ratio of 80.38 and a beta of 0.20. The firm’s 50 day moving average price is $99.83 and its 200 day moving average price is $95.77. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $104.68.

Crown Castle International Corporation (NYSE:CCI) last issued its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Crown Castle International Corporation had a net margin of 11.14% and a return on equity of 6.21%. The company’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 EPS. Equities analysts forecast that Crown Castle International Corporation will post $1.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.77%. Crown Castle International Corporation’s dividend payout ratio (DPR) is presently 304.00%.

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Several brokerages have recently issued reports on CCI. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Crown Castle International Corporation in a research note on Monday, June 12th. Citigroup Inc. cut Crown Castle International Corporation to a “market perform” rating in a research note on Monday, June 12th. BidaskClub cut Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Deutsche Bank AG increased their price objective on Crown Castle International Corporation from $108.00 to $117.00 and gave the company a “buy” rating in a research note on Friday, June 9th. Finally, Zacks Investment Research cut Crown Castle International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $104.95.

In related news, Director Robert F. Mckenzie sold 1,500 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $96.48, for a total transaction of $144,720.00. Following the sale, the director now owns 28,953 shares in the company, valued at $2,793,385.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO James D. Young sold 24,646 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $97.50, for a total transaction of $2,402,985.00. Following the sale, the chief operating officer now owns 140,006 shares in the company, valued at approximately $13,650,585. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

About Crown Castle International Corporation

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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Institutional Ownership by Quarter for Crown Castle International Corporation (NYSE:CCI)

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