Sigma Planning Corp grew its position in Crown Castle International Corp. (REIT) (NYSE:CCI) by 6.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,823 shares of the real estate investment trust’s stock after purchasing an additional 692 shares during the period. Sigma Planning Corp’s holdings in Crown Castle International were worth $2,307,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP bought a new stake in Crown Castle International during the first quarter worth about $118,000. Acadian Asset Management LLC raised its holdings in Crown Castle International by 26.0% during the first quarter. Acadian Asset Management LLC now owns 10,401 shares of the real estate investment trust’s stock worth $1,790,000 after acquiring an additional 2,143 shares in the last quarter. E Fund Management Co. Ltd. bought a new stake in Crown Castle International during the first quarter worth about $130,000. Panagora Asset Management Inc. raised its holdings in Crown Castle International by 0.5% during the first quarter. Panagora Asset Management Inc. now owns 15,323 shares of the real estate investment trust’s stock worth $2,637,000 after acquiring an additional 81 shares in the last quarter. Finally, Advisors Capital Management LLC bought a new stake in Crown Castle International during the first quarter worth about $244,000. Institutional investors own 90.06% of the company’s stock.
Crown Castle International stock opened at $169.72 on Thursday. Crown Castle International Corp. has a 12 month low of $146.15 and a 12 month high of $204.62. The stock’s 50 day moving average is $187.39 and its 200-day moving average is $188.74. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 2.30. The company has a market capitalization of $73.35 billion, a price-to-earnings ratio of 65.28, a PEG ratio of 1.37 and a beta of 0.37.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 30th. Investors of record on Wednesday, September 15th were given a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend was Tuesday, September 14th. Crown Castle International’s dividend payout ratio is currently 78.47%.
In related news, COO Christopher Levendos sold 4,000 shares of the stock in a transaction that occurred on Monday, July 26th. The stock was sold at an average price of $191.52, for a total transaction of $766,080.00. Following the sale, the chief operating officer now owns 8,246 shares of the company’s stock, valued at $1,579,273.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director J Landis Martin purchased 4,200 shares of Crown Castle International stock in a transaction that occurred on Monday, July 26th. The shares were bought at an average cost of $191.52 per share, for a total transaction of $804,384.00. Following the transaction, the director now directly owns 141,755 shares of the company’s stock, valued at $27,148,917.60. The disclosure for this purchase can be found here. Corporate insiders own 0.45% of the company’s stock.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Crown Castle International from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, September 30th. They noted that the move was a valuation call. Credit Suisse Group dropped their price objective on Crown Castle International from $193.00 to $192.00 and set a “neutral” rating on the stock in a research note on Friday, July 23rd. Citigroup lowered Crown Castle International from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 13th. KeyCorp upped their price objective on Crown Castle International from $207.00 to $224.00 and gave the company an “overweight” rating in a research note on Monday, July 19th. They noted that the move was a valuation call. Finally, Oppenheimer lowered Crown Castle International from an “outperform” rating to a “market perform” rating and set a $205.00 price objective on the stock. in a research note on Friday, September 10th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle International presently has an average rating of “Buy” and a consensus target price of $196.55.
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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