Investors Buy Shares of Crown Castle International (CCI) on Weakness

Investors bought shares of Crown Castle International Corp. (REIT) (NYSE:CCI) on weakness during trading on Monday. $66.10 million flowed into the stock on the tick-up and $36.77 million flowed out of the stock on the tick-down, for a money net flow of $29.33 million into the stock. Of all companies tracked, Crown Castle International had the 29th highest net in-flow for the day. Crown Castle International traded down ($0.12) for the day and closed at $103.57

A number of analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 price target for the company in a research note on Wednesday, September 20th. Cowen restated an “outperform” rating and issued a $112.00 price target (up previously from $105.00) on shares of Crown Castle International in a research note on Saturday, September 23rd. UBS Group lowered shares of Crown Castle International from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Oppenheimer restated a “market perform” rating on shares of Crown Castle International in a research note on Monday, October 16th. Finally, CIBC restated a “market perform” rating on shares of Crown Castle International in a research note on Monday, October 16th. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Crown Castle International presently has an average rating of “Buy” and a consensus price target of $112.17.

The firm has a market capitalization of $42,077.91, a price-to-earnings ratio of 87.77, a P/E/G ratio of 1.27 and a beta of 0.23. 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 released its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.07). The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. Crown Castle International had a return on equity of 5.93% and a net margin of 11.35%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. analysts anticipate that Crown Castle International Corp. will post 4.42 EPS for the current year.

In other Crown Castle International news, VP Philip M. Kelley sold 10,551 shares of Crown Castle International stock in a transaction on 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 completion of the transaction, the vice president now owns 91,808 shares of the company’s stock, valued at $10,382,566.72. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. National Pension Service boosted its holdings in Crown Castle International by 15.0% in the fourth quarter. National Pension Service now owns 373,071 shares of the real estate investment trust’s stock worth $41,415,000 after purchasing an additional 48,572 shares during the period. Solaris Asset Management LLC boosted its holdings in Crown Castle International by 25.9% in the fourth quarter. Solaris Asset Management LLC now owns 2,462 shares of the real estate investment trust’s stock worth $273,000 after purchasing an additional 507 shares during the period. Starfire Investment Advisers Inc. acquired a new position in Crown Castle International in the fourth quarter worth $418,000. Bristol Advisors LLC acquired a new position in Crown Castle International in the fourth quarter worth $555,000. Finally, Appleton Partners Inc. MA boosted its holdings in Crown Castle International by 9.5% in the fourth quarter. Appleton Partners Inc. MA now owns 13,990 shares of the real estate investment trust’s stock worth $1,553,000 after purchasing an additional 1,209 shares during the period. 94.82% of the stock is owned by hedge funds and other institutional investors.

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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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