Mitsubishi UFJ Trust & Banking Corp Trims Stake in Crown Castle International Corp. (REIT) (NYSE:CCI)

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 53.1% in the 1st quarter, Holdings Channel reports. The fund owned 395,505 shares of the real estate investment trust’s stock after selling 448,482 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Crown Castle International were worth $67,918,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. M&G Investment Management Ltd. raised its position in Crown Castle International by 14.5% during the first quarter. M&G Investment Management Ltd. now owns 807,987 shares of the real estate investment trust’s stock valued at $138,974,000 after acquiring an additional 102,514 shares in the last quarter. Adell Harriman & Carpenter Inc. grew its holdings in Crown Castle International by 17.6% in the fourth quarter. Adell Harriman & Carpenter Inc. now owns 58,385 shares of the real estate investment trust’s stock valued at $9,294,000 after purchasing an additional 8,730 shares during the period. Mader & Shannon Wealth Management Inc. acquired a new stake in Crown Castle International in the first quarter valued at approximately $6,235,000. Blair William & Co. IL grew its holdings in Crown Castle International by 3.3% in the fourth quarter. Blair William & Co. IL now owns 184,315 shares of the real estate investment trust’s stock valued at $29,341,000 after purchasing an additional 5,842 shares during the period. Finally, Swiss National Bank grew its holdings in Crown Castle International by 1.7% in the first quarter. Swiss National Bank now owns 2,101,471 shares of the real estate investment trust’s stock valued at $361,726,000 after purchasing an additional 34,800 shares during the period. Institutional investors own 90.36% of the company’s stock.

Several analysts have commented on the company. Oppenheimer raised their price objective on Crown Castle International from $170.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, May 3rd. KeyCorp lifted their price target on Crown Castle International from $193.00 to $207.00 and gave the stock an “overweight” rating in a research note on Friday, April 23rd. Wolfe Research began coverage on Crown Castle International in a research note on Wednesday, March 24th. They issued a “peer perform” rating and a $165.00 price target on the stock. Raymond James reaffirmed a “market perform” rating on shares of Crown Castle International in a research note on Monday, May 10th. Finally, Royal Bank of Canada lifted their price target on Crown Castle International from $176.00 to $210.00 and gave the stock an “outperform” rating in a research note on Monday, April 26th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Crown Castle International presently has an average rating of “Buy” and an average target price of $188.86.

CCI stock opened at $200.24 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market cap of $86.54 billion, a P/E ratio of 89.39, a PEG ratio of 1.45 and a beta of 0.35. Crown Castle International Corp. has a 12-month low of $146.15 and a 12-month high of $200.47. The company has a fifty day moving average price of $184.78.

Crown Castle International (NYSE:CCI) last posted its quarterly earnings data on Tuesday, April 20th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by ($0.25). The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Crown Castle International had a net margin of 16.80% and a return on equity of 10.52%. Crown Castle International’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. Sell-side analysts expect that Crown Castle International Corp. will post 6.5 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Monday, June 14th will be issued a dividend of $1.33 per share. The ex-dividend date is Friday, June 11th. This represents a $5.32 annualized dividend and a yield of 2.66%. Crown Castle International’s dividend payout ratio (DPR) is 78.47%.

In other Crown Castle International news, Director Kevin A. Stephens acquired 310 shares of the stock in a transaction dated Friday, May 14th. The stock was acquired at an average cost of $181.53 per share, with a total value of $56,274.30. Following the transaction, the director now owns 5,487 shares in the company, valued at approximately $996,055.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director J Landis Martin acquired 1,180 shares of the stock in a transaction dated Monday, March 15th. The shares were acquired at an average cost of $160.99 per share, with a total value of $189,968.20. Following the completion of the transaction, the director now owns 145,620 shares in the company, valued at approximately $23,443,363.80. The disclosure for this purchase can be found here. 0.45% of the stock is owned by corporate insiders.

About Crown Castle International

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.

Further Reading: Gross Domestic Product (GDP)

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

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