Principal Financial Group Inc. cut its position in shares of Crown Castle International Corporation (NYSE:CCI) by 0.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,716,757 shares of the real estate investment trust’s stock after selling 10,277 shares during the period. Principal Financial Group Inc. owned about 0.74% of Crown Castle International Corporation worth $256,386,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Capital Analysts LLC boosted its stake in shares of Crown Castle International Corporation by 1.8% in the fourth quarter. Capital Analysts LLC now owns 1,146 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 20 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in shares of Crown Castle International Corporation during the fourth quarter valued at $113,000. First Personal Financial Services boosted its stake in shares of Crown Castle International Corporation by 1,574.0% in the first quarter. First Personal Financial Services now owns 1,674 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 1,574 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Crown Castle International Corporation by 2,207.4% in the fourth quarter. Bessemer Group Inc. now owns 1,869 shares of the real estate investment trust’s stock valued at $162,000 after buying an additional 1,788 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of Crown Castle International Corporation during the first quarter valued at $165,000. Institutional investors and hedge funds own 93.45% of the company’s stock.

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

Crown Castle International Corporation (CCI) traded up 0.06% during trading on Monday, reaching $101.24. The company’s stock had a trading volume of 666,505 shares. The company has a market capitalization of $37.06 billion, a P/E ratio of 86.60 and a beta of 0.23. Crown Castle International Corporation has a 12-month low of $79.38 and a 12-month high of $104.68. The firm’s 50-day moving average price is $99.21 and its 200 day moving average price is $92.06.

Crown Castle International Corporation (NYSE:CCI) last issued its earnings results on Monday, April 24th. The real estate investment trust reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.01. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Crown Castle International Corporation had a return on equity of 6.03% and a net margin of 10.43%. Crown Castle International Corporation’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.18 EPS. On average, analysts predict that Crown Castle International Corporation will post $1.24 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Wednesday, June 14th. Crown Castle International Corporation’s dividend payout ratio (DPR) is presently 327.59%.

COPYRIGHT VIOLATION WARNING: This story was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this story on another publication, it was stolen and republished in violation of U.S. and international copyright & trademark laws. The correct version of this story can be read at https://www.thecerbatgem.com/2017/06/19/principal-financial-group-inc-sells-10277-shares-of-crown-castle-international-corporation-cci-updated.html.

Several research analysts have recently commented on CCI shares. Wells Fargo & Company raised Crown Castle International Corporation from a “market perform” rating to an “outperform” rating in a report on Wednesday, March 8th. Deutsche Bank AG boosted their price objective on Crown Castle International Corporation from $108.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Barclays PLC cut their price objective on Crown Castle International Corporation from $101.00 to $95.00 and set an “equal weight” rating for the company in a report on Monday, May 22nd. BidaskClub lowered Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Finally, Guggenheim raised Crown Castle International Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $91.00 to $101.00 in a research note on Monday, April 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Crown Castle International Corporation currently has an average rating of “Buy” and an average target price of $103.35.

In other news, Director Robert F. Mckenzie sold 1,500 shares of the business’s stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $96.48, for a total value of $144,720.00. Following the completion of the transaction, the director now directly owns 28,953 shares of the company’s stock, valued at approximately $2,793,385.44. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO James D. Young sold 24,646 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $97.50, for a total value of $2,402,985.00. Following the completion of the transaction, the chief operating officer now directly owns 140,006 shares of the company’s stock, valued at $13,650,585. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

About Crown Castle International Corporation

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).

Receive News & Stock Ratings for Crown Castle International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle International Corporation and related stocks with our FREE daily email newsletter.