Traders Buy Shares of Crown Castle International Corp. (CCI) on Weakness
Investors purchased shares of Crown Castle International Corp. (NYSE:CCI) on weakness during trading hours on Thursday. $57.74 million flowed into the stock on the tick-up and $22.94 million flowed out of the stock on the tick-down, for a money net flow of $34.80 million into the stock. Of all stocks tracked, Crown Castle International Corp. had the 3rd highest net in-flow for the day. Crown Castle International Corp. traded down ($0.28) for the day and closed at $94.49
A number of analysts have weighed in on CCI shares. Jefferies Group reissued a “buy” rating on shares of Crown Castle International Corp. in a report on Monday, August 22nd. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Crown Castle International Corp. in a report on Tuesday, June 7th. 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. 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. Finally, Citigroup Inc. cut shares of Crown Castle International Corp. from a “buy” rating to a “neutral” rating and lifted their target price for the company from $94.00 to $109.00 in a report on Monday, July 11th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $102.07.
The company has a 50 day moving average of $96.90 and a 200 day moving average of $91.34. The company has a market cap of $31.48 billion and a P/E ratio of 93.92.
Crown Castle International Corp. (NYSE:CCI) last posted its quarterly earnings results on Thursday, July 21st. The real estate investment trust reported $1.16 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.16. The firm had revenue of $962.40 million for the quarter, compared to analyst estimates of $948.85 million. Equities research analysts predict that Crown Castle International Corp. will post $4.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be given a dividend of $0.885 per share. This represents a $3.54 annualized dividend and a dividend yield of 3.80%.
An institutional investor recently raised its position in Crown Castle International Corp. stock. American International Group Inc. boosted 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 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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