Independent Advisor Alliance purchased a new position in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,398 shares of the real estate investment trust’s stock, valued at approximately $245,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Crown Castle International by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 24,372,787 shares of the real estate investment trust’s stock worth $2,441,666,000 after purchasing an additional 891,908 shares during the last quarter. BlackRock Inc. increased its stake in shares of Crown Castle International by 4.2% during the 2nd quarter. BlackRock Inc. now owns 24,254,770 shares of the real estate investment trust’s stock worth $2,429,841,000 after purchasing an additional 975,757 shares during the last quarter. Capital World Investors increased its stake in shares of Crown Castle International by 12.6% during the 2nd quarter. Capital World Investors now owns 23,132,825 shares of the real estate investment trust’s stock worth $2,317,446,000 after purchasing an additional 2,584,490 shares during the last quarter. Capital International Investors increased its stake in shares of Crown Castle International by 10.4% during the 2nd quarter. Capital International Investors now owns 8,445,600 shares of the real estate investment trust’s stock worth $846,080,000 after purchasing an additional 793,400 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in shares of Crown Castle International by 3.0% during the 3rd quarter. Jennison Associates LLC now owns 8,042,148 shares of the real estate investment trust’s stock worth $804,054,000 after purchasing an additional 236,039 shares during the last quarter. 94.87% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Philip M. Kelley sold 10,551 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 91,808 shares in the company, valued at approximately $10,382,566.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on CCI. CIBC restated a “market perform” rating on shares of Crown Castle International in a research note on Monday, October 16th. Zacks Investment Research upgraded shares of Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 price objective on the stock in a research note on Wednesday, September 20th. BidaskClub upgraded shares of Crown Castle International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. UBS lowered shares of Crown Castle International from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Finally, Wells Fargo & Company boosted their price objective on shares of Crown Castle International from $112.50 to $116.00 and gave the stock an “outperform” rating in a research note on Monday, October 23rd. Nine analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $110.58.

Crown Castle International Corp. (NYSE:CCI) opened at $110.61 on Friday. Crown Castle International Corp. has a 52 week low of $83.96 and a 52 week high of $114.97. The company has a market cap of $45,246.86, a PE ratio of 23.50, a P/E/G ratio of 1.63 and a beta of 0.22. The company has a quick ratio of 7.13, a current ratio of 7.13 and a debt-to-equity ratio of 1.19.

Crown Castle International (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.07). Crown Castle International had a net margin of 11.35% and a return on equity of 5.93%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company posted $1.09 EPS. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. equities analysts forecast that Crown Castle International Corp. will post 4.42 earnings per share for the current year.

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $4.20 dividend on an annualized basis and a yield of 3.80%. This is a positive change from Crown Castle International’s previous quarterly dividend of $0.95. Crown Castle International’s dividend payout ratio is 316.67%.

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

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