Main Street Research LLC decreased its stake in shares of Crown Castle International Corporation (NYSE:CCI) by 2.2% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 107,807 shares of the real estate investment trust’s stock after selling 2,420 shares during the period. Crown Castle International Corporation comprises 1.8% of Main Street Research LLC’s portfolio, making the stock its 26th largest position. Main Street Research LLC’s holdings in Crown Castle International Corporation were worth $10,800,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the stock. Winslow Evans & Crocker Inc. boosted its position in Crown Castle International Corporation by 36.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the real estate investment trust’s stock valued at $104,000 after buying an additional 278 shares during the period. Parallel Advisors LLC boosted its position in Crown Castle International Corporation by 261.5% in the first quarter. Parallel Advisors LLC now owns 1,276 shares of the real estate investment trust’s stock valued at $120,000 after buying an additional 923 shares during the period. Guardian Life Insurance Co. of America boosted its position in Crown Castle International Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,391 shares of the real estate investment trust’s stock valued at $131,000 after buying an additional 10 shares during the period. First Personal Financial Services boosted its position in Crown Castle International Corporation by 1,574.0% in the first quarter. First Personal Financial Services now owns 1,674 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 1,574 shares during the period. Finally, Advisory Services Network LLC acquired a new position in Crown Castle International Corporation during the first quarter valued at about $165,000. 91.34% of the stock is currently owned by hedge funds and other institutional investors.
Crown Castle International Corporation (NYSE:CCI) traded up 0.40% during midday trading on Friday, reaching $100.59. The company’s stock had a trading volume of 3,101,792 shares. The firm has a 50 day moving average price of $99.94 and a 200-day moving average price of $94.76. Crown Castle International Corporation has a 12-month low of $79.38 and a 12-month high of $104.68. The company has a market cap of $36.83 billion, a P/E ratio of 80.28 and a beta of 0.20.
Crown Castle International Corporation (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the firm earned $1.05 EPS. The business’s quarterly revenue was up 7.9% on a year-over-year basis. On average, equities research analysts predict that Crown Castle International Corporation will post $1.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 16th were given a dividend of $0.95 per share. The ex-dividend date of this dividend was Wednesday, June 14th. This represents a $3.80 dividend on an annualized basis and a yield of 3.79%. Crown Castle International Corporation’s dividend payout ratio is currently 304.00%.
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CCI has been the topic of several research analyst reports. Macquarie reissued a “buy” rating and set a $107.00 target price on shares of Crown Castle International Corporation in a research note on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and set a $110.00 target price on shares of Crown Castle International Corporation in a research note on Monday, July 10th. Deutsche Bank AG reissued a “buy” rating and set a $108.00 target price (up from $106.00) on shares of Crown Castle International Corporation in a research note on Saturday, April 22nd. Royal Bank Of Canada reissued a “buy” rating and set a $107.00 target price on shares of Crown Castle International Corporation in a research note on Tuesday, April 18th. Finally, Guggenheim raised Crown Castle International Corporation from a “neutral” rating to a “buy” rating and upped their price target for the stock from $91.00 to $101.00 in a research note on Monday, April 10th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Crown Castle International Corporation has an average rating of “Buy” and a consensus target price of $104.95.
In other Crown Castle International Corporation news, COO James D. Young sold 24,646 shares of Crown Castle International Corporation 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 completion of the sale, the chief operating officer now owns 140,006 shares of the company’s stock, valued at approximately $13,650,585. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert F. Mckenzie sold 1,500 shares of Crown Castle International Corporation stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $96.48, for a total value of $144,720.00. Following the sale, the director now directly owns 28,953 shares of the company’s stock, valued at approximately $2,793,385.44. The disclosure for this sale can be found here. 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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