Capital Investment Advisors LLC Cuts Stock Position in Crown Castle International Corp. (REIT) (NYSE:CCI)

Capital Investment Advisors LLC lessened its holdings in Crown Castle International Corp. (REIT) (NYSE:CCI) by 7.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,564 shares of the real estate investment trust’s stock after selling 626 shares during the period. Capital Investment Advisors LLC’s holdings in Crown Castle International were worth $1,311,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CCI. Marshall Wace LLP purchased a new position in shares of Crown Castle International in the 1st quarter valued at $118,000. TownSquare Capital LLC purchased a new position in shares of Crown Castle International in the 1st quarter valued at $337,000. Baker Tilly Wealth Management LLC purchased a new position in shares of Crown Castle International in the 1st quarter valued at $657,000. Axiom Investment Management LLC purchased a new stake in Crown Castle International during the 1st quarter worth $368,000. Finally, Stonnington Group LLC purchased a new stake in Crown Castle International during the 1st quarter worth $2,033,000. 90.15% of the stock is currently owned by institutional investors and hedge funds.

In other news, Director Kevin A. Stephens bought 1,110 shares of Crown Castle International stock in a transaction on Wednesday, October 27th. The stock was purchased at an average cost of $178.66 per share, with a total value of $198,312.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.45% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Credit Suisse Group raised shares of Crown Castle International from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $192.00 to $195.00 in a research note on Tuesday, October 19th. Morgan Stanley lifted their price target on shares of Crown Castle International from $204.00 to $213.00 and gave the stock an “overweight” rating in a research note on Friday, September 10th. They noted that the move was a valuation call. Royal Bank of Canada dropped their price target on shares of Crown Castle International from $210.00 to $202.00 and set an “outperform” rating on the stock in a research note on Monday, October 25th. Barclays boosted their target price on shares of Crown Castle International from $215.00 to $221.00 and gave the stock an “overweight” rating in a research report on Friday, October 22nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Crown Castle International from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, September 30th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $196.08.

NYSE CCI opened at $183.67 on Wednesday. Crown Castle International Corp. has a one year low of $146.15 and a one year high of $204.62. The company has a 50-day simple moving average of $178.89 and a 200-day simple moving average of $188.62. The company has a debt-to-equity ratio of 2.38, a quick ratio of 0.67 and a current ratio of 0.67. The firm has a market capitalization of $79.38 billion, a PE ratio of 60.62, a price-to-earnings-growth ratio of 2.79 and a beta of 0.41.

Crown Castle International (NYSE:CCI) last posted its earnings results on Tuesday, October 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.05. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle International had a net margin of 21.27% and a return on equity of 14.75%. Crown Castle International’s revenue was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. Equities analysts forecast that Crown Castle International Corp. will post 6.58 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 31st. Shareholders of record on Wednesday, December 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.20%. This is a positive change from Crown Castle International’s previous quarterly dividend of $1.33. The ex-dividend date of this dividend is Tuesday, December 14th. Crown Castle International’s payout ratio is presently 175.58%.

About Crown Castle International

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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

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