Prudential Financial Inc. increased its stake in shares of Crown Castle International Corp. (NYSE:CCI) by 83.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 858,072 shares of the real estate investment trust’s stock after buying an additional 389,054 shares during the period. Prudential Financial Inc.’s holdings in Crown Castle International Corp. were worth $80,839,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atria Investments LLC acquired a new stake in shares of Crown Castle International Corp. during the second quarter valued at about $206,000. Investment Partners Ltd. OH ADV purchased a new stake in Crown Castle International Corp. during the second quarter worth $827,000. Quotient Investors LLC purchased a new stake in Crown Castle International Corp. during the second quarter worth $588,000. Chevy Chase Trust Holdings Inc. raised its stake in Crown Castle International Corp. by 2.2% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 288,011 shares of the real estate investment trust’s stock worth $29,213,000 after buying an additional 6,167 shares during the period. Finally, Exxonmobil Investment Management Inc. TX raised its stake in Crown Castle International Corp. by 7.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 87,206 shares of the real estate investment trust’s stock worth $8,845,000 after buying an additional 5,941 shares during the period. 89.48% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Crown Castle International Corp. (NYSE:CCI)

Crown Castle International Corp. (NYSE:CCI) opened at 85.23 on Wednesday. The stock’s 50 day moving average is $88.45 and its 200-day moving average is $93.33. Crown Castle International Corp. has a 1-year low of $75.71 and a 1-year high of $102.82. The company has a market capitalization of $28.77 billion, a P/E ratio of 87.69 and a beta of 0.35.

Crown Castle International Corp. (NYSE:CCI) last posted its quarterly earnings results on Thursday, October 20th. The real estate investment trust reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by $0.09. The business had revenue of $992 million for the quarter, compared to analyst estimates of $968.15 million. Crown Castle International Corp. had a return on equity of 4.84% and a net margin of 9.45%. The business’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. On average, analysts expect that Crown Castle International Corp. will post $4.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be given a dividend of $0.95 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This is a positive change from Crown Castle International Corp.’s previous quarterly dividend of $0.89. This represents a $3.80 dividend on an annualized basis and a yield of 4.46%. Crown Castle International Corp.’s payout ratio is presently 361.23%.

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A number of research firms recently weighed in on CCI. Deutsche Bank AG reissued a “buy” rating and issued a $106.00 price objective on shares of Crown Castle International Corp. in a research report on Friday, November 4th. Zacks Investment Research lowered shares of Crown Castle International Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 28th. Citigroup Inc. reduced their price objective on shares of Crown Castle International Corp. from $109.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, September 16th. SunTrust Banks Inc. began coverage on shares of Crown Castle International Corp. in a research report on Monday, September 12th. They issued a “buy” rating and a $107.00 price objective on the stock. Finally, Oppenheimer Holdings Inc. raised shares of Crown Castle International Corp. from a “market perform” rating to an “outperform” rating and set a $109.00 price objective on the stock in a research report on Tuesday, September 6th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Crown Castle International Corp. presently has an average rating of “Buy” and an average price target of $103.21.

In other news, CFO Daniel K. Schlanger bought 3,140 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were bought at an average cost of $79.74 per share, for a total transaction of $250,383.60. Following the acquisition, the chief financial officer now directly owns 3,140 shares of the company’s stock, valued at approximately $250,383.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman W Benjamin Moreland sold 50,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $98.23, for a total transaction of $4,911,500.00. Following the completion of the transaction, the insider now owns 533,972 shares in the company, valued at $52,452,069.56. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Crown Castle International Corp. Company Profile

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).

5 Day Chart for NYSE:CCI

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