Sawtooth Solutions LLC raised its stake in Crown Castle International Corp. (REIT) (NYSE:CCI) by 9.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,430 shares of the real estate investment trust’s stock after buying an additional 389 shares during the quarter. Sawtooth Solutions LLC’s holdings in Crown Castle International were worth $768,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of CCI. Vanguard Group Inc. increased its position in shares of Crown Castle International by 0.9% during 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 acquiring an additional 475,386 shares during the last quarter. BlackRock Inc. increased its position in shares of Crown Castle International by 3.3% during the third quarter. BlackRock Inc. now owns 32,091,049 shares of the real estate investment trust’s stock valued at $5,562,022,000 after acquiring an additional 1,033,960 shares during the last quarter. Capital International Investors increased its position in shares of 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 valued at $3,583,231,000 after acquiring an additional 658,562 shares during the last quarter. State Street Corp increased its position in Crown Castle International by 2.8% in 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 buying an additional 487,139 shares during the last quarter. Finally, Morgan Stanley increased its position in Crown Castle International by 9.9% in 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 buying an additional 856,986 shares during the last quarter. 89.79% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have issued reports on CCI. Jefferies Financial Group downgraded Crown Castle International from a “buy” rating to a “hold” rating and decreased their target price for the stock from $226.00 to $203.00 in a research report on Monday. Bank of America raised their target price on Crown Castle International from $200.00 to $224.00 and gave the stock a “buy” rating in a research report on Monday, January 3rd. Morgan Stanley decreased their target price on Crown Castle International from $213.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, December 1st. Wolfe Research started coverage on Crown Castle International in a research report on Wednesday, October 13th. They issued an “underperform” rating and a $162.00 target price for the company. Finally, Royal Bank of Canada cut their price target on Crown Castle International from $210.00 to $202.00 and set an “outperform” rating for the company in a report on Monday, October 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $197.69.
Crown Castle International (NYSE:CCI) last issued its quarterly earnings results on Tuesday, October 19th. The real estate investment trust reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Crown Castle International had a return on equity of 14.75% and a net margin of 21.27%. The firm had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the firm posted $1.56 EPS. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities analysts anticipate that Crown Castle International Corp. will post 6.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were given a $1.47 dividend. The ex-dividend date was Tuesday, December 14th. This is a boost from Crown Castle International’s previous quarterly dividend of $1.33. This represents a $5.88 annualized dividend and a yield of 3.10%. Crown Castle International’s dividend payout ratio is 194.06%.
In other Crown Castle International news, Director Kevin A. Stephens acquired 1,110 shares of the stock in a transaction that occurred on Wednesday, October 27th. The shares were acquired at an average cost of $178.66 per share, with a total value of $198,312.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.45% of the company’s stock.
Crown Castle International Company 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.
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