Advisors Asset Management Inc. Buys 13,814 Shares of Crown Castle International Corporation (CCI)

Advisors Asset Management Inc. raised its stake in shares of Crown Castle International Corporation (NYSE:CCI) by 7.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,424 shares of the real estate investment trust’s stock after purchasing an additional 13,814 shares during the period. Advisors Asset Management Inc. owned 0.05% of Crown Castle International Corporation worth $20,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Xact Kapitalforvaltning AB raised its position in Crown Castle International Corporation by 17.1% during the third quarter. Xact Kapitalforvaltning AB now owns 38,850 shares of the real estate investment trust’s stock valued at $3,884,000 after purchasing an additional 5,668 shares during the period. Highstreet Asset Management Inc. raised its position in Crown Castle International Corporation by 101.0% during the third quarter. Highstreet Asset Management Inc. now owns 9,463 shares of the real estate investment trust’s stock valued at $946,000 after purchasing an additional 4,756 shares during the period. Spirit of America Management Corp NY raised its position in Crown Castle International Corporation by 104.8% during the third quarter. Spirit of America Management Corp NY now owns 8,600 shares of the real estate investment trust’s stock valued at $860,000 after purchasing an additional 4,400 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Crown Castle International Corporation by 25.6% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,616 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 1,146 shares during the period. Finally, Motco raised its position in Crown Castle International Corporation by 127.0% during the second quarter. Motco now owns 82,855 shares of the real estate investment trust’s stock valued at $8,301,000 after purchasing an additional 46,351 shares during the period. Institutional investors and hedge funds own 83.80% of the company’s stock.

In other news, VP Philip M. Kelley sold 10,551 shares of the firm’s stock in a transaction on Monday, November 6th. The stock was sold at an average price of $113.09, for a total value of $1,193,212.59. Following the completion of the sale, the vice president now owns 91,808 shares of the company’s stock, valued at approximately $10,382,566.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

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Several equities research analysts have recently weighed in on CCI shares. UBS AG downgraded Crown Castle International Corporation from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. BidaskClub upgraded Crown Castle International Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Barclays PLC increased their price target on Crown Castle International Corporation from $101.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Crown Castle International Corporation in a report on Monday, October 16th. Finally, Zacks Investment Research downgraded Crown Castle International Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Nine 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 company. Crown Castle International Corporation has an average rating of “Buy” and an average price target of $110.04.

Shares of Crown Castle International Corporation (NYSE:CCI) traded down $0.61 during midday trading on Thursday, reaching $112.55. The company’s stock had a trading volume of 1,551,400 shares, compared to its average volume of 2,391,007. The company has a debt-to-equity ratio of 1.19, a current ratio of 7.13 and a quick ratio of 7.13. The company has a market cap of $45,974.09, a PE ratio of 23.87, a PEG ratio of 1.65 and a beta of 0.20. Crown Castle International Corporation has a 1-year low of $80.82 and a 1-year high of $114.97.

Crown Castle International Corporation (NYSE:CCI) last announced its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.07). The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. Crown Castle International Corporation had a net margin of 11.35% and a return on equity of 5.93%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.09 EPS. analysts forecast that Crown Castle International Corporation will post 4.43 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Crown Castle International Corporation’s previous quarterly dividend of $0.95. Crown Castle International Corporation’s dividend payout ratio (DPR) is 316.67%.

About Crown Castle International Corporation

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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