Baird Financial Group Inc. Acquires 507 Shares of Crown Castle International Corp. (REIT) (CCI)
Baird Financial Group Inc. boosted its holdings in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 4.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,036 shares of the real estate investment trust’s stock after purchasing an additional 507 shares during the quarter. Baird Financial Group Inc.’s holdings in Crown Castle International were worth $1,225,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Legacy Advisors LLC purchased a new stake in shares of Crown Castle International in the third quarter valued at $100,000. Spectrum Management Group Inc. purchased a new stake in shares of Crown Castle International in the third quarter valued at $124,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Crown Castle International by 1,463.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 1,083 shares during the period. Fieldpoint Private Securities LLC purchased a new stake in shares of Crown Castle International in the third quarter valued at $137,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Crown Castle International in the third quarter valued at $140,000. 95.04% of the stock is currently owned by institutional investors.
Crown Castle International Corp. (NYSE:CCI) opened at $104.56 on Monday. The company has a quick ratio of 7.13, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. The company has a market cap of $42,550.00, a PE ratio of 103.52, a PEG ratio of 1.28 and a beta of 0.28. Crown Castle International Corp. has a 1-year low of $88.71 and a 1-year high of $114.97.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, March 15th. Crown Castle International’s payout ratio is presently 415.84%.
In other news, SVP Kenneth Jay Simon sold 693 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $108.79, for a total value of $75,391.47. Following the transaction, the senior vice president now directly owns 14,869 shares in the company, valued at $1,617,598.51. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jay A. Brown sold 18,000 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares in the company, valued at $17,622,694.18. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.
Several brokerages have recently weighed in on CCI. Zacks Investment Research raised shares of Crown Castle International from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Guggenheim reissued a “buy” rating and issued a $115.00 target price on shares of Crown Castle International in a research note on Friday, January 26th. Deutsche Bank reissued a “buy” rating and issued a $120.00 target price on shares of Crown Castle International in a research note on Monday, January 22nd. Finally, KeyCorp increased their target price on shares of Crown Castle International from $106.00 to $114.00 in a research note on Monday, November 27th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $113.33.
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About Crown Castle International
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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