Crown Castle International Corp. (CCI) Trading Down 1.1%
Crown Castle International Corp. (NYSE:CCI) shares dropped 1.1% during trading on Wednesday . The stock traded as low as $98.44 and last traded at $98.60, with a volume of 1,067,924 shares. The stock had previously closed at $99.66.
CCI has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Crown Castle International Corp. from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Friday, April 1st. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Crown Castle International Corp. in a research note on Tuesday, June 7th. Cowen and Company restated an “outperform” rating and set a $100.00 price target (up previously from $94.00) on shares of Crown Castle International Corp. in a research note on Monday, April 25th. Deutsche Bank AG increased their price target on shares of Crown Castle International Corp. from $98.00 to $99.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. Finally, Stifel Nicolaus increased their price target on shares of Crown Castle International Corp. from $95.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, April 25th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $99.92.
The stock has a 50 day moving average of $97.10 and a 200-day moving average of $89.04. The company has a market cap of $32.91 billion and a P/E ratio of 23.53.
Crown Castle International Corp. (NYSE:CCI) last posted its earnings results on Thursday, April 21st. The real estate investment trust reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.05. The company earned $934.40 million during the quarter, compared to the consensus estimate of $934.88 million. During the same period last year, the company posted $1.15 EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that Crown Castle International Corp. will post $4.73 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Friday, June 17th were issued a $0.885 dividend. The ex-dividend date was Wednesday, June 15th. This represents a $3.54 dividend on an annualized basis and a dividend yield of 3.59%.
In other news, VP Philip M. Kelley sold 46,951 shares of the stock in a transaction dated Wednesday, April 27th. The shares were sold at an average price of $87.69, for a total value of $4,117,133.19. Following the completion of the transaction, the vice president now owns 95,010 shares of the company’s stock, valued at $8,331,426.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds and institutional investors recently bought and sold shares of CCI. UBS Oconnor LLC bought a new position in Crown Castle International Corp. during the fourth quarter worth approximately $1,081,000. GSA Capital Partners LLP bought a new position in Crown Castle International Corp. during the fourth quarter worth approximately $1,141,000. Suntrust Banks Inc. boosted its position in Crown Castle International Corp. by 111.4% in the fourth quarter. Suntrust Banks Inc. now owns 14,260 shares of the real estate investment trust’s stock worth $1,231,000 after buying an additional 7,514 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Crown Castle International Corp. by 18.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 14,628 shares of the real estate investment trust’s stock worth $1,265,000 after buying an additional 2,280 shares during the period. Finally, Twin Capital Management Inc. boosted its position in Crown Castle International Corp. by 0.6% in the fourth quarter. Twin Capital Management Inc. now owns 17,750 shares of the real estate investment trust’s stock worth $1,534,000 after buying an additional 110 shares during the period.
Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).
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