Traders Buy Shares of Crown Castle International Corp. (CCI) on Weakness
Traders purchased shares of Crown Castle International Corp. (NYSE:CCI) on weakness during trading hours on Friday. $63.94 million flowed into the stock on the tick-up and $38.64 million flowed out of the stock on the tick-down, for a money net flow of $25.30 million into the stock. Of all companies tracked, Crown Castle International Corp. had the 2nd highest net in-flow for the day. Crown Castle International Corp. traded down ($1.23) for the day and closed at $93.26
CCI has been the subject of several research reports. Jefferies Group reissued a “buy” rating on shares of Crown Castle International Corp. in a research report on Monday, August 22nd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Crown Castle International Corp. in a research report on Tuesday, June 7th. Deutsche Bank AG reissued a “buy” rating and issued a $99.00 price objective on shares of Crown Castle International Corp. in a research report on Tuesday, May 31st. Stifel Nicolaus increased their price objective on Crown Castle International Corp. from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 22nd. Finally, Barclays PLC reduced their price objective on Crown Castle International Corp. from $100.00 to $91.00 and set an “equal weight” rating for the company in a research report on Thursday, July 21st. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $102.07.
The firm has a market cap of $31.48 billion and a P/E ratio of 93.92. The company has a 50 day moving average of $96.90 and a 200 day moving average of $91.34.
Crown Castle International Corp. (NYSE:CCI) last issued its earnings results on Thursday, July 21st. The real estate investment trust reported $1.16 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.16. The business had revenue of $962.40 million for the quarter, compared to the consensus estimate of $948.85 million. On average, equities analysts expect that Crown Castle International Corp. will post $4.68 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be paid a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a dividend yield of 3.80%.
A hedge fund recently raised its stake in Crown Castle International Corp. stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Crown Castle International Corp. (NYSE:CCI) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 858,062 shares of the real estate investment trust’s stock after buying an additional 24,291 shares during the period. Schwab Charles Investment Management Inc. owned about 0.26% of Crown Castle International Corp. worth $74,180,000 at the end of the most recent quarter.
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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