Investors Buy Crown Castle International Corp. (CCI) on Weakness
Investors bought 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
Several research analysts have recently issued reports on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Crown Castle International Corp. in a research note on Monday, August 22nd. Zacks Investment Research lowered shares of Crown Castle International Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 price target on shares of Crown Castle International Corp. in a research report on Friday, July 22nd. Stifel Nicolaus increased their price target on shares of 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 cut their price target on shares of Crown Castle International Corp. from $100.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 21st. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.07.
The firm has a market cap of $31.48 billion and a P/E ratio of 93.92. The stock’s 50 day moving average price is $96.90 and its 200-day moving average price is $91.34.
Crown Castle International Corp. (NYSE:CCI) last announced its earnings results on Thursday, July 21st. The real estate investment trust reported $1.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.16. The company earned $962.40 million during the quarter, compared to the consensus estimate of $948.85 million. Analysts predict that Crown Castle International Corp. will post $4.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.885 dividend. This represents a $3.54 annualized dividend and a yield of 3.80%.
A hedge fund recently raised its stake in Crown Castle International Corp. stock. American International Group Inc. increased its stake in shares of Crown Castle International Corp. (NYSE:CCI) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 172,536 shares of the real estate investment trust’s stock after buying an additional 6,397 shares during the period. American International Group Inc. owned approximately 0.05% of Crown Castle International Corp. worth $14,916,000 at the end of the most recent reporting 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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