New York State Teachers Retirement System lifted its holdings in shares of Crown Castle International Corporation (NYSE:CCI) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 594,689 shares of the real estate investment trust’s stock after buying an additional 2,490 shares during the period. New York State Teachers Retirement System owned approximately 0.15% of Crown Castle International Corporation worth $59,457,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Crown Castle International Corporation by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 149,445 shares of the real estate investment trust’s stock valued at $14,115,000 after purchasing an additional 3,003 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in Crown Castle International Corporation in the 1st quarter worth about $403,000. FNY Partners Fund LP acquired a new position in shares of Crown Castle International Corporation during the first quarter valued at approximately $477,000. Point72 Asia Hong Kong Ltd acquired a new position in shares of Crown Castle International Corporation during the first quarter valued at approximately $343,000. Finally, Summit Global Investments increased its holdings in shares of Crown Castle International Corporation by 2.3% in the first quarter. Summit Global Investments now owns 13,200 shares of the real estate investment trust’s stock valued at $1,247,000 after purchasing an additional 300 shares during the last quarter. 82.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Crown Castle International Corporation (CCI) traded down $0.22 during trading on Friday, hitting $113.28. 1,285,900 shares of the stock traded hands, compared to its average volume of 2,400,377. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $114.97. The firm has a market cap of $46,112.23, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.65 and a beta of 0.20. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.95 and a current ratio of 7.13.
Crown Castle International Corporation (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.07). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. Crown Castle International Corporation had a return on equity of 5.93% and a net margin of 11.35%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm earned $1.09 earnings per share. sell-side analysts predict that Crown Castle International Corporation will post 4.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date is Thursday, December 14th. This is a positive change from Crown Castle International Corporation’s previous quarterly dividend of $0.95. Crown Castle International Corporation’s payout ratio is currently 316.67%.
Several brokerages recently weighed in on CCI. KeyCorp reiterated a “hold” rating on shares of Crown Castle International Corporation in a report on Tuesday, October 31st. Royal Bank Of Canada reissued a “buy” rating and set a $107.00 price target on shares of Crown Castle International Corporation in a report on Tuesday, August 29th. Bank of America Corporation boosted their price target on Crown Castle International Corporation from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Citigroup Inc. lifted their price objective on Crown Castle International Corporation from $96.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Finally, BidaskClub upgraded Crown Castle International Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $110.04.
In other news, VP Philip M. Kelley sold 10,551 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $113.09, for a total value of $1,193,212.59. Following the sale, the vice president now owns 91,808 shares of the company’s stock, valued at $10,382,566.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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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