Biltmore Family Office LLC Invests $369,000 in Crown Castle International Corp. (CCI)

Biltmore Family Office LLC acquired a new stake in Crown Castle International Corp. (NYSE:CCI) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,320 shares of the real estate investment trust’s stock, valued at approximately $369,000.

A number of other hedge funds have also added to or reduced their stakes in CCI. First Trust Advisors LP raised its stake in Crown Castle International by 618.4% during the 3rd quarter. First Trust Advisors LP now owns 24,111 shares of the real estate investment trust’s stock valued at $2,411,000 after buying an additional 20,755 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in Crown Castle International by 1.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 72,234 shares of the real estate investment trust’s stock valued at $7,222,000 after buying an additional 1,179 shares during the last quarter. Victory Capital Management Inc. raised its stake in Crown Castle International by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 8,319 shares of the real estate investment trust’s stock valued at $832,000 after buying an additional 669 shares during the last quarter. Bessemer Group Inc. raised its stake in Crown Castle International by 295.9% during the 3rd quarter. Bessemer Group Inc. now owns 1,540 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 1,151 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. raised its stake in Crown Castle International by 16.7% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 27,591 shares of the real estate investment trust’s stock valued at $2,759,000 after buying an additional 3,944 shares during the last quarter. 93.57% of the stock is currently owned by institutional investors and hedge funds.

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In related news, insider Jay A. Brown sold 18,000 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total value of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares of the company’s stock, valued at approximately $17,622,694.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Kenneth Jay Simon sold 693 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $108.79, for a total transaction of $75,391.47. Following the completion of the transaction, the senior vice president now directly owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

CCI has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Crown Castle International from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research note on Tuesday, March 27th. Goldman Sachs lowered shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, March 13th. ValuEngine upgraded shares of Crown Castle International from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Guggenheim reiterated a “buy” rating and set a $115.00 target price on shares of Crown Castle International in a research note on Friday, January 26th. Finally, Deutsche Bank reiterated a “buy” rating and set a $120.00 target price on shares of Crown Castle International in a research note on Monday, January 22nd. Eight equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Crown Castle International currently has a consensus rating of “Buy” and an average target price of $113.75.

Shares of NYSE:CCI traded down $1.79 during midday trading on Friday, hitting $108.01. The company had a trading volume of 2,273,304 shares, compared to its average volume of 2,994,742. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market capitalization of $44,678.41, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 1.35 and a beta of 0.29. Crown Castle International Corp. has a 12-month low of $93.14 and a 12-month high of $114.97.

Crown Castle International (NYSE:CCI) last issued its earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.84). The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.14 billion. Crown Castle International had a return on equity of 4.95% and a net margin of 10.21%. The company’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 EPS. equities research analysts expect that Crown Castle International Corp. will post 5.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Friday, March 16th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Thursday, March 15th. Crown Castle International’s dividend payout ratio is currently 86.60%.

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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.

Institutional Ownership by Quarter for Crown Castle International (NYSE:CCI)

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