Cidel Asset Management Inc. boosted its position in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 163.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,046 shares of the real estate investment trust’s stock after purchasing an additional 29,201 shares during the period. Cidel Asset Management Inc.’s holdings in Crown Castle International were worth $9,179,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CCI. Marshall Wace LLP bought a new position in shares of Crown Castle International during the 1st quarter worth approximately $118,000. Los Angeles Capital Management LLC lifted its stake in shares of Crown Castle International by 135.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 5,835 shares of the real estate investment trust’s stock valued at $1,004,000 after purchasing an additional 3,360 shares during the period. Avidian Wealth Solutions LLC boosted its position in Crown Castle International by 12.9% during the first quarter. Avidian Wealth Solutions LLC now owns 4,943 shares of the real estate investment trust’s stock worth $851,000 after purchasing an additional 564 shares in the last quarter. Cadence Bank NA purchased a new position in Crown Castle International during the first quarter valued at $232,000. Finally, Leelyn Smith LLC acquired a new position in shares of Crown Castle International during the first quarter valued at approximately $150,000. Institutional investors and hedge funds own 90.06% of the company’s stock.
A number of equities analysts have weighed in on CCI shares. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle International from $195.00 to $209.00 and gave the stock a “buy” rating in a research note on Friday, June 11th. Oppenheimer downgraded shares of Crown Castle International from an “outperform” rating to a “market perform” rating and set a $205.00 target price on the stock. in a research note on Friday, September 10th. Credit Suisse Group decreased 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 shares of Crown Castle International from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 13th. Finally, Morgan Stanley increased their price target on shares of Crown Castle International from $204.00 to $213.00 and gave the company an “overweight” rating in a research note on Friday, September 10th. They noted that the move was a valuation call. Five 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, the company has an average rating of “Buy” and a consensus price target of $194.75.
NYSE:CCI traded up $1.12 during mid-day trading on Wednesday, reaching $190.37. The stock had a trading volume of 22,419 shares, compared to its average volume of 1,808,732. Crown Castle International Corp. has a fifty-two week low of $146.15 and a fifty-two week high of $204.62. The business’s 50 day moving average is $195.64 and its 200 day moving average is $186.16. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.66 and a quick ratio of 0.66. The stock has a market cap of $82.28 billion, a P/E ratio of 72.79, a PEG ratio of 1.37 and a beta of 0.37.
Crown Castle International (NYSE:CCI) last released its earnings results on Tuesday, July 20th. The real estate investment trust reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.08. The business had revenue of $1.58 billion for the quarter, compared to the consensus estimate of $1.56 billion. Crown Castle International had a return on equity of 12.30% and a net margin of 18.62%. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. Equities analysts expect that Crown Castle International Corp. will post 6.55 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be issued a $1.33 dividend. This represents a $5.32 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Tuesday, September 14th. Crown Castle International’s dividend payout ratio is currently 78.47%.
Crown Castle International Profile
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.
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