Los Angeles Capital Management LLC Increases Position in Crown Castle International Corp. (NYSE:CCI)

Los Angeles Capital Management LLC grew its holdings in shares of Crown Castle International Corp. (NYSE:CCIGet Rating) by 687.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 103,308 shares of the real estate investment trust’s stock after purchasing an additional 90,186 shares during the period. Los Angeles Capital Management LLC’s holdings in Crown Castle International were worth $19,071,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CCI. Allspring Global Investments Holdings LLC purchased a new stake in shares of Crown Castle International in the fourth quarter worth $14,766,000. CWM LLC purchased a new stake in shares of Crown Castle International in the fourth quarter worth $1,250,000. Cim Investment Management Inc. grew its stake in shares of Crown Castle International by 98.2% in the fourth quarter. Cim Investment Management Inc. now owns 3,894 shares of the real estate investment trust’s stock worth $744,000 after acquiring an additional 1,929 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Crown Castle International by 3.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 25,827 shares of the real estate investment trust’s stock worth $5,391,000 after acquiring an additional 968 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Crown Castle International by 0.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 157,725 shares of the real estate investment trust’s stock worth $32,528,000 after acquiring an additional 896 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCI has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on Crown Castle International from $189.00 to $166.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 12th. Morgan Stanley dropped their price objective on Crown Castle International from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. Credit Suisse Group dropped their price objective on Crown Castle International to $213.00 in a research report on Friday, July 22nd. Cowen dropped their price objective on Crown Castle International to $195.00 in a research report on Friday, July 22nd. Finally, StockNews.com downgraded Crown Castle International from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $196.06.

Crown Castle International Stock Up 0.0 %

NYSE CCI opened at $178.40 on Friday. The stock’s 50-day moving average price is $173.58 and its 200-day moving average price is $177.86. The company has a quick ratio of 0.71, a current ratio of 0.69 and a debt-to-equity ratio of 2.70. Crown Castle International Corp. has a 52 week low of $153.70 and a 52 week high of $209.87. The company has a market capitalization of $77.25 billion, a P/E ratio of 50.11 and a beta of 0.58.

Crown Castle International (NYSE:CCIGet Rating) last posted its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.74). Crown Castle International had a return on equity of 18.93% and a net margin of 22.91%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business earned $1.71 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts predict that Crown Castle International Corp. will post 7.03 earnings per share for the current year.

Crown Castle International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $1.47 per share. This represents a $5.88 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Wednesday, September 14th. Crown Castle International’s dividend payout ratio is currently 165.17%.

Insider Buying and Selling

In other Crown Castle International news, Director Kevin A. Stephens bought 699 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was purchased at an average price of $173.60 per share, for a total transaction of $121,346.40. Following the completion of the transaction, the director now owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.47% of the stock is currently owned by company insiders.

About Crown Castle International

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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.

See Also

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

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