First Citizens Bank & Trust Co. lessened its position in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 3.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,565 shares of the real estate investment trust’s stock after selling 417 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Crown Castle International were worth $2,160,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CCI. Magellan Asset Management Ltd lifted its stake in shares of Crown Castle International by 1.0% in the 3rd quarter. Magellan Asset Management Ltd now owns 13,652,891 shares of the real estate investment trust’s stock valued at $2,273,206,000 after purchasing an additional 140,317 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Crown Castle International by 7.3% in the third quarter. Wells Fargo & Company MN now owns 2,319,447 shares of the real estate investment trust’s stock valued at $386,190,000 after buying an additional 158,687 shares during the period. Allianz Asset Management GmbH lifted its position in Crown Castle International by 58.3% during the third quarter. Allianz Asset Management GmbH now owns 2,234,623 shares of the real estate investment trust’s stock valued at $372,065,000 after buying an additional 822,902 shares in the last quarter. Fisher Asset Management LLC grew its stake in Crown Castle International by 6.6% during the third quarter. Fisher Asset Management LLC now owns 1,947,540 shares of the real estate investment trust’s stock worth $324,266,000 after buying an additional 120,678 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Crown Castle International by 60.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,446,660 shares of the real estate investment trust’s stock worth $240,869,000 after acquiring an additional 547,049 shares in the last quarter. Institutional investors own 90.07% of the company’s stock.
Shares of CCI opened at $152.69 on Thursday. The firm has a market cap of $65.85 billion, a price-to-earnings ratio of 95.43, a PEG ratio of 1.15 and a beta of 0.30. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.02. The business’s 50 day moving average is $158.05 and its two-hundred day moving average is $163.07. Crown Castle International Corp. has a 52-week low of $114.18 and a 52-week high of $180.00.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th were paid a $1.33 dividend. This represents a $5.32 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Monday, December 14th. This is a positive change from Crown Castle International’s previous quarterly dividend of $1.20. Crown Castle International’s dividend payout ratio is 93.50%.
In other news, Director J Landis Martin purchased 6,250 shares of the stock in a transaction dated Tuesday, October 27th. The stock was acquired at an average cost of $161.22 per share, for a total transaction of $1,007,625.00. Following the acquisition, the director now owns 139,543 shares of the company’s stock, valued at $22,497,122.46. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, COO James D. Young sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $164.32, for a total value of $985,920.00. Following the sale, the chief operating officer now directly owns 186,679 shares in the company, valued at $30,675,093.28. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.
A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Crown Castle International from a “hold” rating to a “buy” rating and upped their price target for the stock from $177.00 to $180.00 in a research report on Friday, December 11th. BidaskClub downgraded Crown Castle International from a “hold” rating to a “sell” rating in a research report on Saturday, December 12th. Raymond James upgraded Crown Castle International from a “market perform” rating to an “outperform” rating and set a $172.00 target price on the stock in a report on Monday, October 26th. Credit Suisse Group decreased their price target on Crown Castle International from $148.00 to $146.00 and set a “neutral” rating for the company in a report on Friday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Crown Castle International from $170.00 to $175.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $175.30.
Crown Castle International Company Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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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