Traders Buy Shares of Crown Castle International Corp. (CCI) on Weakness
Traders bought 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 equities 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
A number of equities research analysts have issued reports on the company. Stifel Nicolaus boosted their price target 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. Zacks Investment Research downgraded Crown Castle International Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Jefferies Group restated a “buy” rating on shares of Crown Castle International Corp. in a research note on Monday, August 22nd. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Crown Castle International Corp. in a research note on Tuesday, June 7th. Finally, BTIG Research downgraded Crown Castle International Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 19th. Four research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Crown Castle International Corp. has an average rating of “Buy” and a consensus price target of $102.07.
The company has a 50-day moving average price of $96.10 and a 200-day moving average price of $91.68. The firm 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 results on Thursday, July 21st. The real estate investment trust reported $1.16 EPS for the quarter, meeting analysts’ consensus estimates of $1.16. The business earned $962.40 million during the quarter, compared to analysts’ expectations of $948.85 million. Equities analysts anticipate that Crown Castle International Corp. will post $4.68 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.885 dividend. This represents a $3.54 dividend on an annualized basis 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. raised its position in shares of Crown Castle International Corp. (NYSE:CCI) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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 as of its most recent SEC filing.
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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