Dorsey & Whitney Trust CO LLC Reduces Stake in Crown Castle International Corporation (CCI)
Dorsey & Whitney Trust CO LLC trimmed its position in Crown Castle International Corporation (NYSE:CCI) by 15.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,474 shares of the real estate investment trust’s stock after selling 453 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Crown Castle International were worth $246,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legacy Advisors LLC acquired a new stake in Crown Castle International in the third quarter valued at $100,000. Capital Analysts LLC increased its holdings in Crown Castle International by 5.0% in the second quarter. Capital Analysts LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 53 shares during the period. Spectrum Management Group Inc. acquired a new stake in Crown Castle International in the third quarter valued at $124,000. Knights of Columbus Asset Advisors LLC acquired a new stake in Crown Castle International in the third quarter valued at $140,000. Finally, Crow Point Partners LLC acquired a new stake in Crown Castle International in the third quarter valued at $151,000. Institutional investors own 94.85% of the company’s stock.
Shares of Crown Castle International Corporation (NYSE:CCI) opened at $112.86 on Thursday. The company has a quick ratio of 7.13, a current ratio of 7.13 and a debt-to-equity ratio of 1.19. The company has a market cap of $46,120.35, a P/E ratio of 23.95, a P/E/G ratio of 1.66 and a beta of 0.20. Crown Castle International Corporation has a 1-year low of $80.82 and a 1-year high of $114.97.
Crown Castle International (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.07). Crown Castle International had a return on equity of 5.93% and a net margin of 11.35%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. analysts expect that Crown Castle International Corporation will post 4.42 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.72%. This is a positive change from Crown Castle International’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend is Thursday, December 14th. Crown Castle International’s payout ratio is currently 316.67%.
CCI has been the subject of a number of recent analyst reports. KeyCorp increased their price target on Crown Castle International from $106.00 to $114.00 in a report on Monday. Deutsche Bank raised their target price on Crown Castle International from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded Crown Castle International from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Wells Fargo & Company raised their target price on Crown Castle International from $112.50 to $116.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Finally, Macquarie restated a “buy” rating and issued a $119.00 target price on shares of Crown Castle International in a research note on Sunday, October 22nd. Nine research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $110.58.
In related news, VP Philip M. Kelley sold 10,551 shares of Crown Castle International stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $113.09, for a total value of $1,193,212.59. Following the completion of the transaction, the vice president now directly owns 91,808 shares in the company, valued at approximately $10,382,566.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.
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Crown Castle International 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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