Fred Alger Management Inc. raised its position in Crown Castle International Corporation (NYSE:CCI) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,934,570 shares of the real estate investment trust’s stock after acquiring an additional 156,563 shares during the quarter. Crown Castle International Corporation makes up 0.9% of Fred Alger Management Inc.’s investment portfolio, making the stock its 26th largest position. Fred Alger Management Inc. owned 0.48% of Crown Castle International Corporation worth $193,805,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. raised its stake in shares of Crown Castle International Corporation by 36.0% during the second quarter. Winslow Evans & Crocker Inc. now owns 1,050 shares of the real estate investment trust’s stock valued at $104,000 after acquiring an additional 278 shares during the last quarter. Capital Analysts LLC grew its stake in shares of Crown Castle International Corporation by 5.0% in the second quarter. Capital Analysts LLC now owns 1,113 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 53 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Crown Castle International Corporation by 261.5% in the first quarter. Parallel Advisors LLC now owns 1,276 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 923 shares during the last quarter. Guardian Life Insurance Co. of America grew its stake in shares of Crown Castle International Corporation by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,391 shares of the real estate investment trust’s stock worth $131,000 after purchasing an additional 10 shares during the last quarter. Finally, Solaris Asset Management LLC grew its stake in shares of Crown Castle International Corporation by 5.1% in the second quarter. Solaris Asset Management LLC now owns 1,855 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

CCI has been the subject of a number of recent analyst reports. Deutsche Bank AG upped their price target on Crown Castle International Corporation from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Macquarie reaffirmed a “buy” rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a research report on Wednesday, July 19th. Citigroup Inc. raised their target price on Crown Castle International Corporation from $96.00 to $108.00 and gave the company a “neutral” rating in a research note on Monday, August 28th. Bank of America Corporation upped their price target on Crown Castle International Corporation from $107.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Finally, BidaskClub downgraded Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $107.50.

Shares of Crown Castle International Corporation (NYSE:CCI) traded up 0.10% during midday trading on Tuesday, hitting $99.79. 545,343 shares of the company traded hands. Crown Castle International Corporation has a 52 week low of $79.38 and a 52 week high of $108.88. The company has a 50-day moving average price of $104.29 and a 200-day moving average price of $99.67. The stock has a market capitalization of $40.54 billion, a P/E ratio of 79.64 and a beta of 0.17.

Crown Castle International Corporation (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the business posted $1.05 EPS. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Analysts anticipate that Crown Castle International Corporation will post $1.14 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.95 dividend. The ex-dividend date was Thursday, September 14th. This represents a $3.80 annualized dividend and a yield of 3.81%. Crown Castle International Corporation’s dividend payout ratio (DPR) is presently 304.00%.

In other news, Director J Landis Martin acquired 30,000 shares of Crown Castle International Corporation stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average price of $100.64 per share, for a total transaction of $3,019,200.00. Following the purchase, the director now directly owns 99,335 shares in the company, valued at approximately $9,997,074.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

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Crown Castle International Corporation Profile

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

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