Traders sold shares of Crown Castle International Corp. (REIT) (NYSE:CCI) on strength during trading hours on Wednesday. $45.57 million flowed into the stock on the tick-up and $93.93 million flowed out of the stock on the tick-down, for a money net flow of $48.36 million out of the stock. Of all companies tracked, Crown Castle International had the 17th highest net out-flow for the day. Crown Castle International traded up $0.42 for the day and closed at $112.08
Several equities research analysts recently issued reports on the company. Goldman Sachs Group cut Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded Crown Castle International from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Crown Castle International in a report on Friday, January 26th. Deutsche Bank reissued a “buy” rating and issued a $120.00 target price on shares of Crown Castle International in a research note on Monday, January 22nd. Finally, KeyCorp raised their target price on shares of Crown Castle International from $106.00 to $114.00 in a research note on Monday, November 27th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Crown Castle International presently has a consensus rating of “Buy” and an average price target of $113.33.
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 company has a market capitalization of $45,440.00, a P/E ratio of 110.97, a price-to-earnings-growth ratio of 1.37 and a beta of 0.28.
Crown Castle International (NYSE:CCI) last released its earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.01 by ($0.84). The business 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 company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same period last year, the business earned $1.10 earnings per share. analysts forecast that Crown Castle International Corp. will post 5.26 EPS for the current fiscal year.
The company 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 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Thursday, March 15th. Crown Castle International’s payout ratio is presently 415.84%.
In other news, SVP Kenneth Jay Simon sold 693 shares of Crown Castle International 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 sale, the senior vice president now owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jay A. Brown sold 18,000 shares of Crown Castle International stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the sale, the insider now directly owns 162,526 shares in the company, 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.
Several hedge funds have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in Crown Castle International by 147.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,835 shares of the real estate investment trust’s stock valued at $1,647,000 after purchasing an additional 8,849 shares during the period. Colonial Trust Advisors raised its position in Crown Castle International by 26.2% in the fourth quarter. Colonial Trust Advisors now owns 60,575 shares of the real estate investment trust’s stock valued at $6,725,000 after purchasing an additional 12,569 shares during the period. Xact Kapitalforvaltning AB raised its position in Crown Castle International by 47.8% in the fourth quarter. Xact Kapitalforvaltning AB now owns 57,436 shares of the real estate investment trust’s stock valued at $6,376,000 after purchasing an additional 18,586 shares during the period. Envestnet Asset Management Inc. raised its position in Crown Castle International by 3.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 129,097 shares of the real estate investment trust’s stock valued at $14,330,000 after purchasing an additional 4,177 shares during the period. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Crown Castle International in the fourth quarter valued at approximately $146,000. 93.58% of the stock is currently owned by hedge funds and other institutional investors.
About Crown Castle International
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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