Traders Buy Crown Castle International Corp. (CCI) on Weakness
Investors bought shares of Crown Castle International Corp. (NYSE:CCI) on weakness during trading on Thursday. $38.38 million flowed into the stock on the tick-up and $18.73 million flowed out of the stock on the tick-down, for a money net flow of $19.65 million into the stock. Of all stocks tracked, Crown Castle International Corp. had the 49th highest net in-flow for the day. Crown Castle International Corp. traded down ($0.02) for the day and closed at $94.75
Several brokerages have issued reports on CCI. Jefferies Group reaffirmed a “buy” rating on shares of Crown Castle International Corp. in a report on Saturday, August 6th. Zacks Investment Research cut shares of Crown Castle International Corp. from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $99.00 target price on shares of Crown Castle International Corp. in a report on Tuesday, May 31st. BTIG Research cut shares of Crown Castle International Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, July 19th. Finally, Stifel Nicolaus lifted their target price on shares of Crown Castle International Corp. from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 22nd. Four investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $102.07.
The firm has a 50-day moving average price of $96.24 and a 200-day moving average price of $91.66. The stock has a market capitalization of $31.98 billion and a price-to-earnings ratio of 95.42.
Crown Castle International Corp. (NYSE:CCI) last announced its quarterly earnings data 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 analysts’ expectations of $948.85 million. Equities research analysts anticipate that Crown Castle International Corp. will post $4.68 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a $0.885 dividend. This represents a $3.54 annualized dividend and a dividend yield of 3.74%. The ex-dividend date is Wednesday, September 14th.
A hedge fund recently raised its stake in Crown Castle International Corp. stock. Schwab Charles Investment Management Inc. increased 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 (SEC). The institutional investor 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 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).