Traders Buy Crown Castle International Corp. (CCI) on Weakness
Investors bought shares of Crown Castle International Corp. (NYSE:CCI) on weakness during trading hours 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
A number of equities analysts recently weighed in on the stock. BTIG Research downgraded shares of Crown Castle International Corp. from a “buy” rating to a “neutral” rating in a report on Tuesday, July 19th. Jefferies Group reaffirmed a “buy” rating on shares of Crown Castle International Corp. in a report on Saturday, August 6th. Zacks Investment Research raised shares of 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 report on Tuesday, July 26th. Stifel Nicolaus upped their price objective on shares of Crown Castle International Corp. from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, July 22nd. Finally, Barclays PLC dropped their price objective on shares of Crown Castle International Corp. from $100.00 to $91.00 and set an “equal weight” rating on the stock in a report on Thursday, July 21st. Four research 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 stock. The stock has a consensus rating of “Buy” and a consensus target price of $102.07.
The firm has a 50-day moving average of $96.10 and a 200-day moving average of $91.68. The company has a market cap of $32.43 billion and a P/E ratio of 96.74.
Crown Castle International Corp. (NYSE:CCI) last released its quarterly earnings data on Thursday, July 21st. The real estate investment trust reported $1.16 EPS for the quarter, hitting the consensus estimate of $1.16. The business earned $962.40 million during the quarter, compared to the consensus estimate of $948.85 million. On average, equities analysts anticipate that Crown Castle International Corp. will post $4.68 EPS for the current year.
The firm also recently disclosed 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. The ex-dividend date is Wednesday, September 14th. This represents a $3.54 annualized dividend and a yield of 3.69%.
A hedge fund recently raised its stake in Crown Castle International Corp. stock. American International Group Inc. raised its stake in Crown Castle International Corp. (NYSE:CCI) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 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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