Grisanti Capital Management LLC boosted its position in shares of Crown Castle International Corporation (NYSE:CCI) by 16.7% during the second quarter, Holdings Channel reports. The fund owned 18,250 shares of the real estate investment trust’s stock after buying an additional 2,610 shares during the period. Grisanti Capital Management LLC’s holdings in Crown Castle International Corporation were worth $1,828,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Crown Castle International Corporation by 2,213.6% in the first quarter. BlackRock Inc. now owns 23,279,013 shares of the real estate investment trust’s stock worth $2,198,702,000 after buying an additional 22,272,827 shares during the last quarter. Brookfield Asset Management Inc. raised its stake in shares of Crown Castle International Corporation by 2,367.1% in the first quarter. Brookfield Asset Management Inc. now owns 1,583,900 shares of the real estate investment trust’s stock worth $149,599,000 after buying an additional 1,519,700 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Crown Castle International Corporation by 35.3% in the first quarter. Renaissance Technologies LLC now owns 3,998,603 shares of the real estate investment trust’s stock worth $377,668,000 after buying an additional 1,043,700 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Crown Castle International Corporation by 37.4% in the second quarter. Daiwa Securities Group Inc. now owns 3,737,065 shares of the real estate investment trust’s stock worth $374,379,000 after buying an additional 1,017,085 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Crown Castle International Corporation by 7,113.1% in the first quarter. Wellington Management Group LLP now owns 998,949 shares of the real estate investment trust’s stock worth $94,352,000 after buying an additional 985,100 shares during the last quarter. 82.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Crown Castle International Corporation (CCI) opened at 100.85 on Friday. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $104.68. The firm has a 50-day moving average price of $99.86 and a 200-day moving average price of $95.87. The company has a market capitalization of $40.97 billion, a P/E ratio of 80.49 and a beta of 0.20.

Crown Castle International Corporation (NYSE:CCI) last issued its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. Crown Castle International Corporation’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Equities analysts forecast that Crown Castle International Corporation will post $1.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.77%. The ex-dividend date is Thursday, September 14th. Crown Castle International Corporation’s dividend payout ratio is presently 304.00%.

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A number of equities analysts recently commented on the company. Deutsche Bank AG reaffirmed a “buy” rating and issued a $108.00 price objective (up from $106.00) on shares of Crown Castle International Corporation in a research note on Saturday, April 22nd. Zacks Investment Research raised Crown Castle International Corporation from a “hold” rating to a “strong-buy” rating and set a $114.00 price objective on the stock in a research note on Tuesday, July 11th. BidaskClub lowered Crown Castle International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Macquarie reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Crown Castle International Corporation in a research note on Wednesday, July 19th. Finally, Barclays PLC cut their price objective on Crown Castle International Corporation from $101.00 to $95.00 and set an “equal weight” rating on the stock in a research note on Monday, May 22nd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Crown Castle International Corporation currently has a consensus rating of “Buy” and a consensus target price of $104.95.

In other Crown Castle International Corporation news, COO James D. Young sold 24,646 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $97.50, for a total value of $2,402,985.00. Following the completion of the sale, the chief operating officer now owns 140,006 shares in the company, valued at approximately $13,650,585. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert F. Mckenzie sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $96.48, for a total value of $144,720.00. Following the completion of the sale, the director now owns 28,953 shares of the company’s stock, valued at approximately $2,793,385.44. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Crown Castle International Corporation 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).

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

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