Pacer Advisors Inc. reduced its position in Crown Castle International Corp. (REIT) (NYSE:CCI) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 986,432 shares of the real estate investment trust’s stock after selling 3,490 shares during the quarter. Crown Castle International makes up 3.0% of Pacer Advisors Inc.’s portfolio, making the stock its 3rd largest holding. Pacer Advisors Inc. owned approximately 0.23% of Crown Castle International worth $169,795,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. BNC Wealth Management LLC bought a new position in Crown Castle International in the third quarter worth $25,000. Bainco International Investors acquired a new position in Crown Castle International during the fourth quarter worth $25,000. Jeppson Wealth Management LLC acquired a new position in Crown Castle International during the third quarter worth $27,000. Vantage Consulting Group Inc acquired a new position in Crown Castle International during the fourth quarter worth $27,000. Finally, Curi Capital acquired a new position in Crown Castle International during the fourth quarter worth $27,000. 90.07% of the stock is owned by hedge funds and other institutional investors.
Crown Castle International stock traded up $1.20 during mid-day trading on Thursday, hitting $177.46. The stock had a trading volume of 19,833 shares, compared to its average volume of 2,338,194. The stock has a 50-day simple moving average of $163.08 and a two-hundred day simple moving average of $161.61. The stock has a market capitalization of $76.70 billion, a PE ratio of 110.16, a P/E/G ratio of 1.18 and a beta of 0.30. Crown Castle International Corp. has a 12 month low of $146.15 and a 12 month high of $180.00. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.02.
Crown Castle International (NYSE:CCI) last posted its quarterly earnings results on Wednesday, January 27th. The real estate investment trust reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.58 by $0.75. The business had revenue of $1.35 billion for the quarter, compared to analysts’ expectations of $1.51 billion. Crown Castle International had a return on equity of 7.57% and a net margin of 13.09%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.43 earnings per share. Sell-side analysts expect that Crown Castle International Corp. will post 5.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were issued a dividend of $1.33 per share. This represents a $5.32 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Friday, March 12th. Crown Castle International’s dividend payout ratio (DPR) is currently 93.50%.
In related news, Director J Landis Martin bought 1,180 shares of Crown Castle International stock in a transaction on Monday, March 15th. The shares were purchased at an average price of $160.99 per share, for a total transaction of $189,968.20. Following the completion of the acquisition, the director now owns 145,620 shares in the company, valued at $23,443,363.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel K. Schlanger sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, March 9th. The stock was sold at an average price of $150.73, for a total value of $753,650.00. Following the transaction, the chief financial officer now owns 80,811 shares in the company, valued at approximately $12,180,642.03. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 7,780 shares of company stock worth $1,253,828 and have sold 14,796 shares worth $2,270,261. 0.47% of the stock is currently owned by company insiders.
Several research analysts have issued reports on CCI shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded Crown Castle International from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Thursday, January 14th. Smith Barney Citigroup upgraded Crown Castle International from a “neutral” rating to a “buy” rating in a research note on Thursday, January 14th. Deutsche Bank Aktiengesellschaft upgraded Crown Castle International from a “hold” rating to a “buy” rating and raised their target price for the company from $177.00 to $180.00 in a research note on Friday, December 11th. Wolfe Research assumed coverage on Crown Castle International in a research note on Wednesday, March 24th. They issued a “peer perform” rating and a $165.00 target price for the company. Finally, Credit Suisse Group lowered their target price on Crown Castle International from $158.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, January 29th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $175.55.
Crown Castle International 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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