Canada Pension Plan Investment Board Has $92.77 Million Stake in Crown Castle International Corporation (NYSE:CCI)

Canada Pension Plan Investment Board increased its stake in Crown Castle International Corporation (NYSE:CCI) by 26.6% during the second quarter, Holdings Channel reports. The fund owned 926,023 shares of the real estate investment trust’s stock after buying an additional 194,704 shares during the period. Canada Pension Plan Investment Board’s holdings in Crown Castle International Corporation were worth $92,769,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Bank of The West raised its stake in Crown Castle International Corporation by 0.7% in the first quarter. Bank of The West now owns 5,720 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 42 shares in the last quarter. DnB Asset Management AS raised its stake in Crown Castle International Corporation by 28.7% in the first quarter. DnB Asset Management AS now owns 37,648 shares of the real estate investment trust’s stock valued at $3,556,000 after buying an additional 8,400 shares in the last quarter. National Investment Services Inc. WI raised its stake in Crown Castle International Corporation by 22.2% in the first quarter. National Investment Services Inc. WI now owns 23,161 shares of the real estate investment trust’s stock valued at $2,188,000 after buying an additional 4,207 shares in the last quarter. Eastern Bank acquired a new stake in Crown Castle International Corporation during the first quarter valued at about $212,000. Finally, Atria Investments LLC raised its stake in Crown Castle International Corporation by 108.4% in the first quarter. Atria Investments LLC now owns 6,955 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 3,617 shares in the last quarter. Institutional investors and hedge funds own 82.80% of the company’s stock.

Crown Castle International Corporation (CCI) opened at 100.77 on Thursday. The firm has a market cap of $36.89 billion, a P/E ratio of 80.42 and a beta of 0.20. The stock has a 50 day moving average price of $99.80 and a 200 day moving average price of $95.74. Crown Castle International Corporation has a 52-week low of $79.38 and a 52-week high of $104.68.

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

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

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CCI has been the topic of several research analyst reports. Deutsche Bank AG restated a “buy” rating and issued a $108.00 price objective (up previously from $106.00) on shares of Crown Castle International Corporation in a research note on Saturday, April 22nd. Royal Bank Of Canada restated a “buy” rating and issued a $107.00 price objective on shares of Crown Castle International Corporation in a research note on Tuesday, April 18th. BidaskClub lowered Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Zacks Investment Research upgraded 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. Finally, Citigroup Inc. dropped their price objective on Crown Castle International Corporation from $100.00 to $96.00 and set a “neutral” rating on the stock in a research note on Friday, July 21st. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $104.95.

In related news, Director J Landis Martin purchased 30,000 shares of the stock in a transaction that occurred on Friday, July 28th. The shares were bought at an average price of $100.64 per share, with a total value of $3,019,200.00. Following the acquisition, the director now owns 99,335 shares of the company’s stock, valued at approximately $9,997,074.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert F. Mckenzie sold 1,500 shares of Crown Castle International Corporation stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $96.48, for a total transaction of $144,720.00. Following the completion of the sale, the director now directly owns 28,953 shares in the company, valued at approximately $2,793,385.44. The disclosure for this sale can be found here. 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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