Brinker Capital Investments LLC Raises Position in Crown Castle International Corp. (REIT) (NYSE:CCI)

Brinker Capital Investments LLC raised its holdings in Crown Castle International Corp. (REIT) (NYSE:CCI) by 126.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 56,980 shares of the real estate investment trust’s stock after acquiring an additional 31,860 shares during the quarter. Brinker Capital Investments LLC’s holdings in Crown Castle International were worth $9,808,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Crown Castle International during the 4th quarter worth $669,019,000. Morgan Stanley lifted its position in shares of Crown Castle International by 13.7% during the 4th quarter. Morgan Stanley now owns 8,208,821 shares of the real estate investment trust’s stock worth $1,306,761,000 after purchasing an additional 987,581 shares during the last quarter. Magellan Asset Management Ltd lifted its position in shares of Crown Castle International by 5.8% during the 4th quarter. Magellan Asset Management Ltd now owns 14,444,891 shares of the real estate investment trust’s stock worth $2,299,482,000 after purchasing an additional 792,000 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Crown Castle International by 39.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,017,517 shares of the real estate investment trust’s stock worth $321,168,000 after purchasing an additional 570,857 shares during the last quarter. Finally, Ninety One UK Ltd lifted its position in shares of Crown Castle International by 1,595.1% during the 1st quarter. Ninety One UK Ltd now owns 571,862 shares of the real estate investment trust’s stock worth $98,435,000 after purchasing an additional 538,126 shares during the last quarter. 90.36% of the stock is owned by institutional investors.

Shares of Crown Castle International stock opened at $200.24 on Friday. Crown Castle International Corp. has a 52-week low of $146.15 and a 52-week high of $200.47. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 2.21. The business’s 50-day moving average price is $184.78. The firm has a market capitalization of $86.54 billion, a price-to-earnings ratio of 89.39, a price-to-earnings-growth ratio of 1.45 and a beta of 0.35.

Crown Castle International (NYSE:CCI) last issued its quarterly earnings results on Tuesday, April 20th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Crown Castle International had a return on equity of 10.52% and a net margin of 16.80%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. Equities analysts forecast that Crown Castle International Corp. will post 6.5 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Monday, June 14th will be given a dividend of $1.33 per share. The ex-dividend date is Friday, June 11th. This represents a $5.32 annualized dividend and a yield of 2.66%. Crown Castle International’s payout ratio is currently 78.47%.

In related news, Director J Landis Martin bought 1,180 shares of the stock in a transaction on Monday, March 15th. The shares were bought at an average cost of $160.99 per share, for a total transaction of $189,968.20. Following the completion of the transaction, the director now owns 145,620 shares of the company’s stock, valued at approximately $23,443,363.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kevin A. Stephens bought 310 shares of the stock in a transaction on Friday, May 14th. The shares were bought at an average price of $181.53 per share, for a total transaction of $56,274.30. Following the completion of the transaction, the director now directly owns 5,487 shares of the company’s stock, valued at approximately $996,055.11. The disclosure for this purchase can be found here. Corporate insiders own 0.45% of the company’s stock.

Several equities research analysts have recently issued reports on the stock. Raymond James reaffirmed a “market perform” rating on shares of Crown Castle International in a research report on Monday, May 10th. Royal Bank of Canada boosted their price target on shares of Crown Castle International from $176.00 to $210.00 and gave the company an “outperform” rating in a research report on Monday, April 26th. Wolfe Research began coverage on shares of Crown Castle International in a research report on Wednesday, March 24th. They issued a “peer perform” rating and a $165.00 price target for the company. Oppenheimer lifted their price objective on shares of Crown Castle International from $170.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $209.00 price objective (up from $195.00) on shares of Crown Castle International in a research note on Friday. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Crown Castle International presently has a consensus rating of “Buy” and a consensus target price of $188.86.

Crown Castle International Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.

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

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