Prudential Financial Inc. increased its stake in Crown Castle International Corp. (NYSE:CCI) by 83.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 858,072 shares of the real estate investment trust’s stock after buying an additional 389,054 shares during the period. Prudential Financial Inc. owned approximately 0.25% of Crown Castle International Corp. worth $80,839,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Capital Analysts LLC raised its position in shares of Crown Castle International Corp. by 0.7% in the second quarter. Capital Analysts LLC now owns 1,057 shares of the real estate investment trust’s stock valued at $107,000 after buying an additional 7 shares during the period. FineMark National Bank & Trust raised its position in shares of Crown Castle International Corp. by 846.6% in the second quarter. FineMark National Bank & Trust now owns 1,117 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 999 shares during the period. CENTRAL TRUST Co raised its position in shares of Crown Castle International Corp. by 309.7% in the second quarter. CENTRAL TRUST Co now owns 1,229 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 929 shares during the period. Pinkerton Retirement Specialists LLC purchased a new position in shares of Crown Castle International Corp. during the second quarter valued at $136,000. Finally, Van ECK Associates Corp purchased a new position in shares of Crown Castle International Corp. during the second quarter valued at $153,000. 89.48% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Crown Castle International Corp. (NYSE:CCI) opened at 85.23 on Wednesday. The stock has a market cap of $28.77 billion, a P/E ratio of 87.69 and a beta of 0.35. The firm’s 50-day moving average price is $88.45 and its 200-day moving average price is $93.33. Crown Castle International Corp. has a 52-week low of $75.71 and a 52-week high of $102.82.

Crown Castle International Corp. (NYSE:CCI) last issued its quarterly earnings data on Thursday, October 20th. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.18 by $0.09. Crown Castle International Corp. had a net margin of 9.45% and a return on equity of 4.84%. The business had revenue of $992 million for the quarter, compared to the consensus estimate of $968.15 million. During the same period in the previous year, the firm earned $1.07 EPS. The company’s revenue was up 8.1% on a year-over-year basis. Equities analysts predict that Crown Castle International Corp. will post $4.74 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Friday, December 16th will be given a dividend of $0.95 per share. This is an increase from Crown Castle International Corp.’s previous quarterly dividend of $0.89. The ex-dividend date is Wednesday, December 14th. This represents a $3.80 dividend on an annualized basis and a dividend yield of 4.46%. Crown Castle International Corp.’s payout ratio is presently 361.23%.

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Several brokerages have weighed in on CCI. SunTrust Banks Inc. began coverage on Crown Castle International Corp. in a report on Monday, September 12th. They set a “buy” rating and a $107.00 price objective for the company. Citigroup Inc. reduced their price objective on Crown Castle International Corp. from $109.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, September 16th. Jefferies Group reissued a “buy” rating on shares of Crown Castle International Corp. in a report on Monday, August 22nd. Zacks Investment Research lowered Crown Castle International Corp. from a “buy” rating to a “hold” rating in a report on Friday, October 28th. Finally, Oppenheimer Holdings Inc. raised Crown Castle International Corp. from a “market perform” rating to an “outperform” rating and set a $109.00 price target for the company in a report on Tuesday, September 6th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $103.21.

In other news, Director Robert F. Mckenzie sold 1,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $93.07, for a total transaction of $93,070.00. Following the completion of the sale, the director now owns 28,741 shares of the company’s stock, valued at approximately $2,674,924.87. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Vice Chairman W Benjamin Moreland sold 50,000 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $98.23, for a total transaction of $4,911,500.00. Following the sale, the insider now directly owns 533,972 shares of the company’s stock, valued at approximately $52,452,069.56. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

About Crown Castle International Corp.

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).

5 Day Chart for NYSE:CCI

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