Vanguard Group Inc. Grows Position in Crown Castle International Corporation (CCI)

Vanguard Group Inc. increased its stake in Crown Castle International Corporation (NYSE:CCI) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,372,787 shares of the real estate investment trust’s stock after buying an additional 891,908 shares during the period. Vanguard Group Inc. owned 6.66% of Crown Castle International Corporation worth $2,441,666,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Motco raised its stake in Crown Castle International Corporation by 127.0% in the second quarter. Motco now owns 82,855 shares of the real estate investment trust’s stock worth $8,301,000 after buying an additional 46,351 shares in the last quarter. Congress Asset Management Co. MA raised its stake in Crown Castle International Corporation by 10.9% in the first quarter. Congress Asset Management Co. MA now owns 451,884 shares of the real estate investment trust’s stock worth $42,680,000 after buying an additional 44,430 shares in the last quarter. Prudential Financial Inc. raised its stake in Crown Castle International Corporation by 2.2% in the first quarter. Prudential Financial Inc. now owns 911,885 shares of the real estate investment trust’s stock worth $86,128,000 after buying an additional 19,673 shares in the last quarter. Norinchukin Bank The raised its stake in Crown Castle International Corporation by 7.1% in the first quarter. Norinchukin Bank The now owns 23,429 shares of the real estate investment trust’s stock worth $2,213,000 after buying an additional 1,553 shares in the last quarter. Finally, Perigon Wealth Management LLC raised its stake in Crown Castle International Corporation by 205.3% in the first quarter. Perigon Wealth Management LLC now owns 2,357 shares of the real estate investment trust’s stock worth $223,000 after buying an additional 1,585 shares in the last quarter. 82.90% of the stock is owned by institutional investors.

CCI has been the subject of a number of research reports. Citigroup Inc. increased their price target on shares of Crown Castle International Corporation from $96.00 to $108.00 and gave the stock a “neutral” rating in a research note on Monday, August 28th. Zacks Investment Research raised shares of Crown Castle International Corporation from a “hold” rating to a “strong-buy” rating and set a $114.00 price target for the company in a research note on Tuesday, July 11th. Macquarie reissued a “buy” rating and issued a $107.00 price target on shares of Crown Castle International Corporation in a research note on Wednesday, July 19th. Royal Bank Of Canada reissued a “buy” rating and issued a $107.00 price target on shares of Crown Castle International Corporation in a research note on Tuesday, August 29th. Finally, BidaskClub downgraded shares of Crown Castle International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $107.05.

In other Crown Castle International Corporation news, Director J Landis Martin purchased 30,000 shares of Crown Castle International Corporation stock in a transaction dated Friday, July 28th. The stock was acquired at an average price of $100.64 per share, for a total transaction of $3,019,200.00. Following the acquisition, the director now owns 99,335 shares in the company, valued at approximately $9,997,074.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

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Shares of Crown Castle International Corporation (NYSE CCI) traded up 0.26% during midday trading on Thursday, reaching $102.10. 153,036 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $104.44 and its 200 day moving average price is $99.02. The company has a market cap of $41.48 billion, a price-to-earnings ratio of 81.48 and a beta of 0.18. Crown Castle International Corporation has a 12-month low of $79.38 and a 12-month high of $108.88.

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, beating the consensus estimate of $0.28 by $0.03. Crown Castle International Corporation had a net margin of 11.14% and a return on equity of 6.21%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The company’s quarterly revenue was up 7.9% compared to the same quarter last year. Equities analysts anticipate that Crown Castle International Corporation will post $1.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders 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 annualized dividend and a dividend yield of 3.73%. Crown Castle International Corporation’s dividend payout ratio is currently 304.00%.

Crown Castle International Corporation 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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