MPI Investment Management Inc. acquired a new stake in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,126 shares of the real estate investment trust’s stock, valued at approximately $2,123,000. Crown Castle International comprises approximately 2.5% of MPI Investment Management Inc.’s portfolio, making the stock its 12th biggest holding.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Advisors LLC acquired a new position in shares of Crown Castle International during the 3rd quarter valued at about $100,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Crown Castle International by 1,463.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after purchasing an additional 1,083 shares during the period. Spectrum Management Group Inc. purchased a new stake in shares of Crown Castle International during the 3rd quarter worth about $124,000. Fieldpoint Private Securities LLC purchased a new stake in shares of Crown Castle International during the 3rd quarter worth about $137,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in shares of Crown Castle International during the 3rd quarter worth about $140,000. 93.57% of the stock is owned by institutional investors.
A number of analysts have recently issued reports on CCI shares. UBS Group cut Crown Castle International from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Barclays boosted their target price on Crown Castle International from $101.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Oppenheimer reiterated a “market perform” rating on shares of Crown Castle International in a report on Monday, October 16th. Macquarie reiterated a “buy” rating and set a $119.00 target price on shares of Crown Castle International in a report on Sunday, October 22nd. Finally, CIBC reiterated a “market perform” rating on shares of Crown Castle International in a report on Monday, October 16th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $113.33.
Crown Castle International Corp. (NYSE:CCI) opened at $108.75 on Thursday. The firm has a market capitalization of $44,101.77, a P/E ratio of 106.62, a price-to-earnings-growth ratio of 1.33 and a beta of 0.26. Crown Castle International Corp. has a fifty-two week low of $86.93 and a fifty-two week high of $114.97. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 7.13.
Crown Castle International (NYSE:CCI) last released its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.84). The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.14 billion. Crown Castle International had a return on equity of 4.95% and a net margin of 10.21%. The firm’s revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. equities analysts forecast that Crown Castle International Corp. will post 5.25 earnings per share for the current year.
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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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