Main Street Research LLC cut its stake in Crown Castle International Corporation (NYSE:CCI) by 2.2% during the second quarter, according to its most recent filing with the SEC. The firm 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 approximately 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 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Crown Castle International Corporation by 8.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 146,442 shares of the real estate investment trust’s stock valued at $12,708,000 after buying an additional 11,875 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Crown Castle International Corporation by 28.5% in the fourth quarter. Teachers Advisors LLC now owns 1,805,537 shares of the real estate investment trust’s stock valued at $156,666,000 after buying an additional 400,180 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Crown Castle International Corporation during the fourth quarter valued at $2,271,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Crown Castle International Corporation during the fourth quarter valued at $1,013,000. Finally, Macquarie Group Ltd. boosted its stake in shares of Crown Castle International Corporation by 5.0% in the fourth quarter. Macquarie Group Ltd. now owns 3,619,368 shares of the real estate investment trust’s stock valued at $314,053,000 after buying an additional 173,119 shares in the last quarter. 83.12% of the stock is currently owned by institutional investors.
Crown Castle International Corporation (NYSE CCI) opened at 102.02 on Friday. The stock’s 50 day moving average is $99.84 and its 200 day moving average is $95.24. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $104.68. The firm has a market cap of $37.35 billion, a price-to-earnings ratio of 81.42 and a beta of 0.20.
Crown Castle International Corporation (NYSE:CCI) last announced its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, analysts predict that Crown Castle International Corporation will post $1.17 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.95 per share. The ex-dividend date is Thursday, September 14th. This represents a $3.80 dividend on an annualized basis and a yield of 3.72%. Crown Castle International Corporation’s dividend payout ratio (DPR) is currently 304.00%.
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CCI has been the topic of several analyst reports. Guggenheim raised shares of Crown Castle International Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $91.00 to $101.00 in a research note on Monday, April 10th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $107.00 price target on shares of Crown Castle International Corporation in a research report on Tuesday, April 18th. Deutsche Bank AG reaffirmed a “buy” rating and set a $108.00 price target (up previously from $106.00) on shares of Crown Castle International Corporation in a research report on Saturday, April 22nd. Barclays PLC cut their price target on shares of Crown Castle International Corporation from $101.00 to $95.00 and set an “equal weight” rating on the stock in a research report on Monday, May 22nd. Finally, BidaskClub cut shares of Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $104.95.
In other news, Director J Landis Martin bought 30,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was acquired at an average cost of $100.64 per share, with a total value of $3,019,200.00. Following the completion of the acquisition, the director now owns 99,335 shares of the company’s stock, valued at $9,997,074.40. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $144,720.00. Following the completion of the transaction, the director now directly owns 28,953 shares of the company’s stock, valued at $2,793,385.44. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
Crown Castle International Corporation 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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