Summit Global Investments Has $622,000 Position in Crown Castle International Corporation (CCI)

Summit Global Investments lowered its stake in shares of Crown Castle International Corporation (NYSE:CCI) by 53.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,210 shares of the real estate investment trust’s stock after selling 6,990 shares during the period. Summit Global Investments’ holdings in Crown Castle International Corporation were worth $622,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Crown Castle International Corporation by 14.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,273 shares of the real estate investment trust’s stock valued at $228,000 after acquiring an additional 295 shares during the last quarter. Dai Ichi Life Insurance Company Ltd boosted its stake in shares of Crown Castle International Corporation by 108.9% during the second quarter. Dai Ichi Life Insurance Company Ltd now owns 26,812 shares of the real estate investment trust’s stock valued at $2,686,000 after acquiring an additional 13,980 shares during the last quarter. CI Global Investments Inc. acquired a new stake in shares of Crown Castle International Corporation during the second quarter valued at $15,360,000. Aberdeen Asset Management PLC UK boosted its stake in shares of Crown Castle International Corporation by 3.7% during the second quarter. Aberdeen Asset Management PLC UK now owns 79,925 shares of the real estate investment trust’s stock valued at $8,007,000 after acquiring an additional 2,854 shares during the last quarter. Finally, AXA boosted its stake in shares of Crown Castle International Corporation by 1.6% during the second quarter. AXA now owns 62,095 shares of the real estate investment trust’s stock valued at $6,221,000 after acquiring an additional 990 shares during the last quarter. 82.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of Crown Castle International Corporation (NYSE:CCI) traded down 1.06% during mid-day trading on Tuesday, reaching $105.80. The company’s stock had a trading volume of 88,135 shares. The firm’s 50 day moving average is $103.53 and its 200-day moving average is $98.44. Crown Castle International Corporation has a 52-week low of $79.38 and a 52-week high of $108.88. The company has a market capitalization of $42.98 billion, a PE ratio of 84.44 and a beta of 0.18.

Crown Castle International Corporation (NYSE:CCI) last posted its quarterly 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 firm had revenue of $1.04 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. Analysts forecast that Crown Castle International Corporation will post $1.16 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a yield of 3.55%. The ex-dividend date is Thursday, September 14th. Crown Castle International Corporation’s payout ratio is 304.00%.

In other news, Director J Landis Martin bought 30,000 shares of the stock in a transaction on Friday, July 28th. The shares were purchased at an average price of $100.64 per share, for a total transaction of $3,019,200.00. Following the completion of the purchase, the director now directly owns 99,335 shares of the company’s stock, valued at approximately $9,997,074.40. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by insiders.

A number of analysts recently commented on CCI shares. BidaskClub raised Crown Castle International Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research lowered Crown Castle International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a research note on Tuesday, August 29th. Jefferies Group LLC reissued a “buy” rating and issued a $110.00 price target on shares of Crown Castle International Corporation in a research note on Monday, July 10th. Finally, Citigroup Inc. lowered Crown Castle International Corporation to a “market perform” rating in a research note on Monday, June 12th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $106.50.

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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).

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

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