Edgemoor Investment Advisors Inc. reduced its position in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,755 shares of the real estate investment trust’s stock after selling 1,517 shares during the period. Crown Castle International comprises 1.9% of Edgemoor Investment Advisors Inc.’s portfolio, making the stock its 14th largest position. Edgemoor Investment Advisors Inc.’s holdings in Crown Castle International were worth $13,873,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legacy Advisors LLC acquired a new stake in Crown Castle International in the third quarter valued at $100,000. Capital Analysts LLC increased its stake in Crown Castle International by 5.0% during the second quarter. Capital Analysts LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 53 shares during the last quarter. Spectrum Management Group Inc. bought a new stake in Crown Castle International during the third quarter valued at $124,000. Knights of Columbus Asset Advisors LLC bought a new stake in Crown Castle International during the third quarter valued at $140,000. Finally, Crow Point Partners LLC bought a new stake in Crown Castle International during the third quarter valued at $151,000. 94.87% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Philip M. Kelley sold 10,551 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 91,808 shares in the company, valued at $10,382,566.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.41% of the company’s stock.
Shares of Crown Castle International Corp. (CCI) traded down $0.82 on Wednesday, hitting $108.81. The stock had a trading volume of 2,082,600 shares, compared to its average volume of 2,357,932. The firm has a market cap of $44,539.94, a P/E ratio of 23.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.22. Crown Castle International Corp. has a one year low of $83.26 and a one year high of $114.97. 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 issued its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.10 by ($0.07). Crown Castle International had a net margin of 11.35% and a return on equity of 5.93%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Crown Castle International’s revenue for the quarter was up 7.2% on a year-over-year basis. equities analysts predict that Crown Castle International Corp. will post 4.42 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $1.05 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $4.20 dividend on an annualized basis and a yield of 3.86%. This is an increase from Crown Castle International’s previous quarterly dividend of $0.95. Crown Castle International’s dividend payout ratio is currently 316.67%.
Several equities analysts have recently commented on CCI shares. BidaskClub upgraded shares of Crown Castle International from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. Citigroup upped their price target on shares of Crown Castle International from $96.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Crown Castle International in a report on Tuesday, August 29th. Bank of America upped their price objective on shares of Crown Castle International from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Finally, Zacks Investment Research raised shares of Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a report on Wednesday, September 20th. Nine research 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 stock. Crown Castle International presently has a consensus rating of “Buy” and an average price target of $110.58.
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Crown Castle International 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).
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