AdvisorNet Financial Inc lowered its holdings in shares of Crown Castle International Corp. (NYSE:CCI) by 29.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,026 shares of the real estate investment trust’s stock after selling 1,250 shares during the quarter. AdvisorNet Financial Inc’s holdings in Crown Castle International were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC bought a new position in shares of Crown Castle International during the 1st quarter valued at $134,000. Teachers Insurance & Annuity Association of America raised its holdings in Crown Castle International by 3.3% in the 1st quarter. Teachers Insurance & Annuity Association of America now owns 527,351 shares of the real estate investment trust’s stock worth $57,803,000 after acquiring an additional 16,705 shares during the period. Neuburgh Advisers LLC raised its holdings in Crown Castle International by 39.4% in the 1st quarter. Neuburgh Advisers LLC now owns 7,584 shares of the real estate investment trust’s stock worth $831,000 after acquiring an additional 2,144 shares during the period. Centersquare Investment Management LLC bought a new position in Crown Castle International in the 1st quarter worth $12,019,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in Crown Castle International by 5.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 792,500 shares of the real estate investment trust’s stock worth $86,866,000 after acquiring an additional 40,000 shares during the period. Institutional investors and hedge funds own 91.04% of the company’s stock.
Crown Castle International opened at $101.91 on Friday, MarketBeat reports. Crown Castle International Corp. has a 52-week low of $102.90 and a 52-week high of $103.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The stock has a market cap of $42.84 billion, a PE ratio of 21.01, a P/E/G ratio of 1.27 and a beta of 0.29.
Crown Castle International (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 18th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.19 by ($0.98). Crown Castle International had a return on equity of 4.06% and a net margin of 8.87%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. research analysts expect that Crown Castle International Corp. will post 5.26 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 4.12%. Crown Castle International’s payout ratio is 86.60%.
In other news, SVP Kenneth Jay Simon sold 693 shares of Crown Castle International stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $108.79, for a total transaction of $75,391.47. Following the sale, the senior vice president now directly owns 14,869 shares in the company, valued at approximately $1,617,598.51. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anthony J. Melone bought 1,979 shares of the firm’s stock in a transaction dated Friday, April 27th. The shares were acquired at an average price of $101.06 per share, for a total transaction of $199,997.74. Following the completion of the transaction, the director now owns 10,547 shares in the company, valued at approximately $1,065,879.82. The disclosure for this purchase can be found here. Insiders own 0.36% of the company’s stock.
Several brokerages recently commented on CCI. Cowen reiterated a “buy” rating and issued a $119.00 target price on shares of Crown Castle International in a report on Friday, April 20th. Zacks Investment Research upgraded shares of Crown Castle International from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Deutsche Bank reiterated a “buy” rating and issued a $120.00 target price on shares of Crown Castle International in a report on Monday, January 22nd. Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of Crown Castle International in a report on Friday, January 26th. Finally, Barclays lifted their target price on shares of Crown Castle International from $107.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 17th. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Crown Castle International currently has an average rating of “Buy” and an average price target of $114.75.
Crown Castle International Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.
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