NFJ Investment Group LLC Has $5.04 Million Stock Holdings in Crown Castle International Corp. (REIT) (NYSE:CCI)

NFJ Investment Group LLC trimmed its holdings in Crown Castle International Corp. (REIT) (NYSE:CCI) by 51.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,852 shares of the real estate investment trust’s stock after selling 27,209 shares during the quarter. NFJ Investment Group LLC’s holdings in Crown Castle International were worth $5,044,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Marshall Wace LLP acquired a new position in Crown Castle International during the 1st quarter worth approximately $118,000. Sowell Financial Services LLC raised its stake in Crown Castle International by 14.3% during the 1st quarter. Sowell Financial Services LLC now owns 4,878 shares of the real estate investment trust’s stock worth $882,000 after buying an additional 610 shares during the period. Alps Advisors Inc. raised its stake in Crown Castle International by 12.3% during the 1st quarter. Alps Advisors Inc. now owns 4,522 shares of the real estate investment trust’s stock worth $778,000 after buying an additional 495 shares during the period. Lincoln National Corp raised its stake in Crown Castle International by 1.9% during the 1st quarter. Lincoln National Corp now owns 6,289 shares of the real estate investment trust’s stock worth $1,082,000 after buying an additional 120 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in Crown Castle International during the 1st quarter worth approximately $717,000. 90.06% of the stock is currently owned by institutional investors.

CCI stock opened at $182.07 on Friday. The firm has a market cap of $78.69 billion, a PE ratio of 70.03, a P/E/G ratio of 1.37 and a beta of 0.37. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 2.30. The business has a 50 day moving average of $193.27 and a 200-day moving average of $187.69. Crown Castle International Corp. has a 12-month low of $146.15 and a 12-month high of $204.62.

Crown Castle International (NYSE:CCI) last announced its quarterly earnings data on Tuesday, July 20th. The real estate investment trust reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.08. Crown Castle International had a return on equity of 12.30% and a net margin of 18.62%. The business had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the company earned $0.41 earnings per share. Crown Castle International’s revenue was up 9.9% compared to the same quarter last year. On average, research analysts expect that Crown Castle International Corp. will post 6.55 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Tuesday, September 14th. Crown Castle International’s dividend payout ratio (DPR) is 78.47%.

In other news, COO Christopher Levendos sold 4,000 shares of the firm’s stock in a transaction on Monday, July 26th. The stock was sold at an average price of $191.52, for a total value of $766,080.00. Following the completion of the transaction, the chief operating officer now directly owns 8,246 shares of the company’s stock, valued at $1,579,273.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director J Landis Martin purchased 4,200 shares of the business’s stock in a transaction dated Monday, July 26th. The stock was bought at an average cost of $191.52 per share, with a total value of $804,384.00. Following the completion of the acquisition, the director now directly owns 141,755 shares of the company’s stock, valued at $27,148,917.60. The disclosure for this purchase can be found here. 0.45% of the stock is currently owned by corporate insiders.

A number of research analysts recently weighed in on the company. KeyCorp upped their price target on Crown Castle International from $207.00 to $224.00 and gave the stock an “overweight” rating in a research note on Monday, July 19th. They noted that the move was a valuation call. Credit Suisse Group lowered their price objective on Crown Castle International from $193.00 to $192.00 and set a “neutral” rating for the company in a research note on Friday, July 23rd. Citigroup downgraded Crown Castle International from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 13th. Morgan Stanley increased their price objective on Crown Castle International from $204.00 to $213.00 and gave the stock an “overweight” rating in a research note on Friday, September 10th. They noted that the move was a valuation call. Finally, Oppenheimer downgraded Crown Castle International from an “outperform” rating to a “market perform” rating and set a $205.00 price objective for the company. in a research note on Friday, September 10th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $196.55.

About Crown Castle International

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

Further Reading: Hold Rating

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

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