Crown Castle International Corp. (REIT) (NYSE:CCI) Shares Bought by Sara Bay Financial

Sara Bay Financial grew its stake in Crown Castle International Corp. (REIT) (NYSE:CCI) by 0.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,031 shares of the real estate investment trust’s stock after purchasing an additional 75 shares during the period. Crown Castle International makes up approximately 0.8% of Sara Bay Financial’s portfolio, making the stock its 17th biggest holding. Sara Bay Financial’s holdings in Crown Castle International were worth $2,085,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Crown Castle International by 0.9% in the second quarter. Vanguard Group Inc. now owns 55,371,690 shares of the real estate investment trust’s stock valued at $10,803,017,000 after purchasing an additional 475,386 shares during the period. BlackRock Inc. grew its holdings in Crown Castle International by 1.5% during the second quarter. BlackRock Inc. now owns 31,057,089 shares of the real estate investment trust’s stock worth $6,059,238,000 after acquiring an additional 457,321 shares during the period. Capital International Investors grew its holdings in Crown Castle International by 3.7% during the second quarter. Capital International Investors now owns 18,362,162 shares of the real estate investment trust’s stock worth $3,583,231,000 after acquiring an additional 658,562 shares during the period. State Street Corp grew its holdings in Crown Castle International by 2.8% during the second quarter. State Street Corp now owns 17,951,994 shares of the real estate investment trust’s stock worth $3,502,434,000 after acquiring an additional 487,139 shares during the period. Finally, Morgan Stanley grew its holdings in Crown Castle International by 9.9% during the second quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock worth $1,860,558,000 after acquiring an additional 856,986 shares during the period. 90.15% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle International stock opened at $184.70 on Thursday. The firm has a market capitalization of $79.83 billion, a P/E ratio of 60.96, a PEG ratio of 2.74 and a beta of 0.41. The stock has a fifty day moving average price of $179.43 and a 200 day moving average price of $188.61. Crown Castle International Corp. has a 52 week low of $146.15 and a 52 week high of $204.62. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.38.

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

The company also recently declared 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. The ex-dividend date of this dividend is Tuesday, December 14th. This is a positive change from Crown Castle International’s previous quarterly dividend of $1.33. This represents a $5.88 annualized dividend and a yield of 3.18%. Crown Castle International’s dividend payout ratio is currently 175.58%.

In other news, Director Kevin A. Stephens purchased 1,110 shares of the company’s stock in a transaction on Wednesday, October 27th. The stock was bought at an average cost of $178.66 per share, for a total transaction of $198,312.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

CCI has been the topic of a number of recent analyst reports. Barclays upped their price objective on Crown Castle International from $215.00 to $221.00 and gave the stock an “overweight” rating in a report on Friday, October 22nd. KeyCorp decreased their target price on Crown Castle International from $224.00 to $202.00 and set an “overweight” rating on the stock in a research report on Friday, October 22nd. Morgan Stanley boosted their target price on Crown Castle International from $204.00 to $213.00 and gave the stock an “overweight” rating in a research report on Friday, September 10th. They noted that the move was a valuation call. Oppenheimer downgraded Crown Castle International from an “outperform” rating to a “market perform” rating and set a $205.00 target price on the stock. in a research report on Friday, September 10th. Finally, Royal Bank of Canada decreased their target price on Crown Castle International from $210.00 to $202.00 and set an “outperform” rating on the stock in a research report on Monday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $196.08.

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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