Institutional & Family Asset Management LLC Buys New Stake in Crown Castle International Corp. (REIT) (CCI)
Institutional & Family Asset Management LLC bought a new stake in Crown Castle International Corp. (REIT) (NYSE:CCI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,176 shares of the real estate investment trust’s stock, valued at approximately $318,000.
Other institutional investors have also recently modified their holdings of the company. Legacy Advisors LLC bought a new stake in Crown Castle International in the 3rd quarter valued at about $100,000. Capital Analysts LLC increased its position in Crown Castle International by 5.0% in the 2nd quarter. Capital Analysts LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 53 shares in the last quarter. Spectrum Management Group Inc. bought a new stake in Crown Castle International in the 3rd quarter valued at about $124,000. Fieldpoint Private Securities LLC bought a new stake in Crown Castle International in the 3rd quarter valued at about $137,000. Finally, Knights of Columbus Asset Advisors LLC bought a new stake in Crown Castle International during the 3rd quarter worth approximately $140,000. 94.87% of the stock is owned by institutional investors and hedge funds.
In other news, VP Philip M. Kelley sold 10,551 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $113.09, for a total value of $1,193,212.59. Following the transaction, the vice president now owns 91,808 shares in the company, valued at approximately $10,382,566.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.
A number of analysts have commented on the company. Zacks Investment Research raised Crown Castle International from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Deutsche Bank boosted their price objective on Crown Castle International from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Wells Fargo & Company boosted their price objective on Crown Castle International from $112.50 to $116.00 and gave the stock an “outperform” rating in a report on Monday, October 23rd. Citigroup boosted their price objective on Crown Castle International from $96.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, August 28th. Finally, Bank of America boosted their price objective on Crown Castle International from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Nine research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $110.58.
Crown Castle International Corp. (NYSE CCI) opened at $110.65 on Friday. Crown Castle International Corp. has a 12 month low of $83.96 and a 12 month high of $114.97. The firm has a market capitalization of $44,938.09, a P/E ratio of 23.33, a PEG ratio of 1.61 and a beta of 0.22. The company has a quick ratio of 7.13, a current ratio of 7.13 and a debt-to-equity ratio of 1.19.
Crown Castle International (NYSE:CCI) last announced its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.07). Crown Castle International had a return on equity of 5.93% and a net margin of 11.35%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm earned $1.09 EPS. Crown Castle International’s quarterly revenue was up 7.2% on a year-over-year basis. research analysts forecast that Crown Castle International Corp. will post 4.42 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, December 14th. This is an increase from Crown Castle International’s previous quarterly dividend of $0.95. Crown Castle International’s payout ratio is presently 350.00%.
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Crown Castle International Company 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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