Metropolitan Life Insurance Co. NY lessened its position in shares of Crown Castle International Corp. (NYSE:CCI) by 61.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,483 shares of the real estate investment trust’s stock after selling 129,779 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Crown Castle International were worth $8,934,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Avestar Capital LLC purchased a new position in shares of Crown Castle International in the fourth quarter worth about $112,000. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of Crown Castle International in the fourth quarter worth about $124,000. Icon Wealth Partners LLC purchased a new position in shares of Crown Castle International in the fourth quarter worth about $126,000. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Crown Castle International by 1,463.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 1,083 shares in the last quarter. Finally, Spectrum Management Group Inc. purchased a new position in shares of Crown Castle International in the third quarter worth about $124,000. Institutional investors own 93.57% of the company’s stock.
In other news, SVP Kenneth Jay Simon sold 693 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $108.79, for a total transaction of $75,391.47. Following the completion of the sale, the senior vice president now owns 14,869 shares in the company, valued at approximately $1,617,598.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jay A. Brown sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the sale, the insider now owns 162,526 shares of the company’s stock, valued at approximately $17,622,694.18. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.
CCI has been the subject of several recent analyst reports. Deutsche Bank restated a “buy” rating and set a $120.00 price objective on shares of Crown Castle International in a research report on Monday, January 22nd. Guggenheim restated a “buy” rating and set a $115.00 price objective on shares of Crown Castle International in a research report on Friday, January 26th. Zacks Investment Research upgraded shares of Crown Castle International from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Goldman Sachs cut shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, March 13th. Finally, ValuEngine upgraded shares of Crown Castle International from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Eight research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $113.75.
Crown Castle International stock traded down $1.79 during trading on Friday, reaching $108.01. The stock had a trading volume of 2,273,304 shares, compared to its average volume of 2,994,742. Crown Castle International Corp. has a 52-week low of $93.14 and a 52-week high of $114.97. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $43,950.03, a P/E ratio of 22.27, a P/E/G ratio of 1.33 and a beta of 0.29.
Crown Castle International (NYSE:CCI) last issued its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.84). The firm had revenue of $1.24 billion during 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 revenue was up 20.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 EPS. research analysts anticipate that Crown Castle International Corp. will post 5.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Stockholders of record on Friday, March 16th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, March 15th. This represents a $4.20 annualized dividend and a dividend yield of 3.89%. Crown Castle International’s dividend payout ratio is presently 86.60%.
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Crown Castle International 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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