State of Tennessee Treasury Department decreased its holdings in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 1.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 268,459 shares of the real estate investment trust’s stock after selling 4,866 shares during the period. State of Tennessee Treasury Department’s holdings in Crown Castle International were worth $29,801,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CCI. Daiwa Securities Group Inc. boosted its holdings in shares of Crown Castle International by 43.4% in the third quarter. Daiwa Securities Group Inc. now owns 5,357,951 shares of the real estate investment trust’s stock valued at $535,687,000 after purchasing an additional 1,620,886 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Crown Castle International by 91.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,268,110 shares of the real estate investment trust’s stock valued at $226,769,000 after purchasing an additional 1,083,972 shares during the period. Eagle Asset Management Inc. boosted its holdings in shares of Crown Castle International by 296.6% in the fourth quarter. Eagle Asset Management Inc. now owns 1,296,485 shares of the real estate investment trust’s stock valued at $141,938,000 after purchasing an additional 969,591 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Crown Castle International by 29.5% in the third quarter. Principal Financial Group Inc. now owns 3,574,736 shares of the real estate investment trust’s stock valued at $357,402,000 after purchasing an additional 813,300 shares during the period. Finally, Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Crown Castle International by 62.7% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 1,075,682 shares of the real estate investment trust’s stock valued at $107,547,000 after purchasing an additional 414,582 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the company. KeyCorp boosted their price target on Crown Castle International from $106.00 to $114.00 in a report on Monday, November 27th. Deutsche Bank upped their target price on Crown Castle International from $117.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Zacks Investment Research upgraded Crown Castle International from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Finally, Guggenheim restated a “buy” rating and set a $115.00 target price on shares of Crown Castle International in a report on Friday, January 26th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $113.33.
Shares of Crown Castle International Corp. (NYSE CCI) opened at $108.46 on Friday. The company has a current ratio of 0.88, a quick ratio of 7.13 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $43,386.71, a price-to-earnings ratio of 106.33, a price-to-earnings-growth ratio of 1.31 and a beta of 0.26. Crown Castle International Corp. has a twelve month low of $88.71 and a twelve month high of $114.97.
Crown Castle International (NYSE:CCI) last posted its earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.84). The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Crown Castle International had a return on equity of 4.95% and a net margin of 10.21%. The firm’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. equities analysts forecast that Crown Castle International Corp. will post 5.26 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Thursday, March 15th. Crown Castle International’s payout ratio is presently 411.77%.
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Crown Castle International Company 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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