Investors 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. $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 companies tracked, Crown Castle International Corp. had the 31st highest net in-flow for the day. Crown Castle International Corp. traded down ($0.02) for the day and closed at $94.75
Several research firms have recently weighed in on CCI. BTIG Research lowered Crown Castle International Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 19th. Jefferies Group reaffirmed a “buy” rating on shares of Crown Castle International Corp. in a research note on Saturday, August 6th. Zacks Investment Research raised Crown Castle International Corp. from a “hold” rating to a “strong-buy” rating and set a $112.00 price objective on the stock in a research note on Tuesday, July 26th. Stifel Nicolaus lifted their price objective on Crown Castle International Corp. from $103.00 to $110.00 and gave the company a “buy” rating in a research note 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 on the stock in a research note on Thursday, July 21st. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $102.07.
The firm has a market cap of $32.43 billion and a P/E ratio of 96.74. The stock has a 50 day moving average of $96.10 and a 200-day moving average of $91.71.
Crown Castle International Corp. (NYSE:CCI) last issued its earnings results on Thursday, July 21st. The real estate investment trust reported $1.16 earnings per share for the quarter, hitting the consensus estimate of $1.16. The firm earned $962.40 million during the quarter, compared to analyst estimates of $948.85 million. Analysts anticipate that Crown Castle International Corp. will post $4.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.885 dividend. This represents a $3.54 annualized dividend and a yield of 3.69%. The ex-dividend date is Wednesday, September 14th.
A hedge fund recently raised its stake in Crown Castle International Corp. stock. American International Group Inc. boosted its stake in Crown Castle International Corp. (NYSE:CCI) by 3.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 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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