Cypress Capital LLC cut its holdings in Crown Castle International Corp. (NYSE:CCI – Get Rating) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,417 shares of the real estate investment trust’s stock after selling 365 shares during the quarter. Cypress Capital LLC’s holdings in Crown Castle International were worth $1,738,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Allspring Global Investments Holdings LLC acquired a new stake in shares of Crown Castle International in the fourth quarter valued at $14,766,000. CWM LLC acquired a new stake in shares of Crown Castle International in the fourth quarter valued at $1,250,000. Cim Investment Management Inc. increased its stake in shares of Crown Castle International by 98.2% in the fourth quarter. Cim Investment Management Inc. now owns 3,894 shares of the real estate investment trust’s stock valued at $744,000 after buying an additional 1,929 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Crown Castle International by 3.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 25,827 shares of the real estate investment trust’s stock valued at $5,391,000 after buying an additional 968 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Crown Castle International by 0.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 157,725 shares of the real estate investment trust’s stock valued at $32,528,000 after acquiring an additional 896 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on CCI shares. Cowen decreased their price target on Crown Castle International to $195.00 in a report on Friday, July 22nd. Jefferies Financial Group upgraded Crown Castle International from a “hold” rating to a “buy” rating and raised their price target for the company from $191.00 to $200.00 in a report on Thursday, June 30th. Credit Suisse Group decreased their price target on Crown Castle International to $213.00 in a report on Friday, July 22nd. Deutsche Bank Aktiengesellschaft raised their price target on Crown Castle International from $183.00 to $185.00 in a report on Friday, July 22nd. Finally, Citigroup decreased their price target on Crown Castle International from $204.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $196.06.
Insider Activity at Crown Castle International
Crown Castle International Trading Up 0.0 %
NYSE:CCI opened at $178.40 on Friday. Crown Castle International Corp. has a fifty-two week low of $153.70 and a fifty-two week high of $209.87. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.71. The stock has a market capitalization of $77.25 billion, a PE ratio of 50.11 and a beta of 0.58. The business’s 50-day simple moving average is $173.58 and its 200-day simple moving average is $177.86.
Crown Castle International (NYSE:CCI – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.74). Crown Castle International had a net margin of 22.91% and a return on equity of 18.93%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $1.71 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Sell-side analysts expect that Crown Castle International Corp. will post 7.03 earnings per share for the current fiscal year.
Crown Castle International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, September 14th. Crown Castle International’s dividend payout ratio is presently 165.17%.
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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