Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Stock Holdings in Crown Castle International Corp. (REIT) (NYSE:CCI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 23.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 313,607 shares of the real estate investment trust’s stock after purchasing an additional 60,590 shares during the quarter. Crown Castle International comprises 0.6% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s portfolio, making the stock its 18th biggest holding. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Crown Castle International were worth $54,354,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Evermay Wealth Management LLC bought a new stake in shares of Crown Castle International in the 2nd quarter valued at about $37,000. TCI Wealth Advisors Inc. lifted its stake in Crown Castle International by 41.4% in the third quarter. TCI Wealth Advisors Inc. now owns 280 shares of the real estate investment trust’s stock valued at $49,000 after buying an additional 82 shares during the period. City Holding Co. increased its holdings in shares of Crown Castle International by 61.6% during the third quarter. City Holding Co. now owns 286 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 109 shares in the last quarter. Newbridge Financial Services Group Inc. grew its holdings in Crown Castle International by 154.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 371 shares of the real estate investment trust’s stock worth $72,000 after buying an additional 225 shares in the last quarter. Finally, RE Advisers Corp boosted its position in Crown Castle International by 54.8% in the third quarter. RE Advisers Corp now owns 469 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 166 shares during the last quarter. 89.79% of the stock is owned by institutional investors.

In other news, Director Kevin A. Stephens acquired 1,110 shares of the business’s stock in a transaction that occurred on Wednesday, October 27th. The stock was bought at an average price of $178.66 per share, with a total value of $198,312.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.45% of the company’s stock.

Several research firms have weighed in on CCI. Jefferies Financial Group cut Crown Castle International from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $226.00 to $203.00 in a report on Monday. Bank of America lifted their target price on Crown Castle International from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, January 3rd. Credit Suisse Group upgraded Crown Castle International from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $192.00 to $195.00 in a research report on Tuesday, October 19th. JPMorgan Chase & Co. cut Crown Castle International from an “overweight” rating to a “neutral” rating and set a $200.00 target price on the stock. in a research note on Wednesday, January 5th. Finally, KeyCorp cut their target price on Crown Castle International from $224.00 to $202.00 and set an “overweight” rating on the stock in a research note on Friday, October 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $197.69.

Crown Castle International stock traded down $4.30 during mid-day trading on Friday, hitting $183.08. 14,468 shares of the company’s stock traded hands, compared to its average volume of 1,636,572. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.67 and a quick ratio of 0.67. The stock has a market cap of $79.13 billion, a price-to-earnings ratio of 61.84, a P/E/G ratio of 2.69 and a beta of 0.46. The firm has a 50 day simple moving average of $191.20 and a two-hundred day simple moving average of $189.60. Crown Castle International Corp. has a fifty-two week low of $146.15 and a fifty-two week high of $209.87.

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

The business also recently declared a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a yield of 3.21%. This is a positive change from Crown Castle International’s previous quarterly dividend of $1.33. The ex-dividend date was Tuesday, December 14th. Crown Castle International’s dividend payout ratio (DPR) is presently 194.06%.

Crown Castle International Profile

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.

Further Reading: P/E Growth (PEG)

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

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