Princeton Global Asset Management LLC lifted its holdings in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,039 shares of the real estate investment trust’s stock after acquiring an additional 276 shares during the quarter. Princeton Global Asset Management LLC’s holdings in Crown Castle International were worth $1,439,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently modified their holdings of the company. BNC Wealth Management LLC acquired a new position in Crown Castle International in the 3rd quarter worth $25,000. Bainco International Investors acquired a new position in Crown Castle International in the 4th quarter worth $25,000. Jeppson Wealth Management LLC bought a new stake in shares of Crown Castle International in the 3rd quarter worth about $27,000. Vectors Research Management LLC bought a new stake in shares of Crown Castle International in the 4th quarter worth about $30,000. Finally, Adams Wealth Management bought a new stake in shares of Crown Castle International in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.
CCI stock traded down $2.93 on Tuesday, hitting $162.39. 14,946 shares of the company’s stock traded hands, compared to its average volume of 2,291,056. Crown Castle International Corp. has a 1-year low of $114.18 and a 1-year high of $180.00. The stock has a market cap of $70.04 billion, a price-to-earnings ratio of 103.33, a P/E/G ratio of 1.18 and a beta of 0.30. The stock has a fifty day moving average of $159.65 and a 200-day moving average of $161.59. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.02.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 31st. Investors of record on Monday, March 15th will be paid a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 3.28%. The ex-dividend date is Friday, March 12th. Crown Castle International’s dividend payout ratio is presently 93.50%.
A number of equities research analysts recently weighed in on CCI shares. Smith Barney Citigroup raised shares of Crown Castle International from a “neutral” rating to a “buy” rating in a research report on Thursday, January 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Crown Castle International from a “hold” rating to a “buy” rating and upped their target price for the stock from $177.00 to $180.00 in a research report on Friday, December 11th. Credit Suisse Group reduced their price target on shares of Crown Castle International from $158.00 to $155.00 and set a “neutral” rating for the company in a research note on Friday, January 29th. Raymond James reduced their price target on shares of Crown Castle International from $172.00 to $169.00 and set an “outperform” rating for the company in a research note on Friday, January 29th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of Crown Castle International from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Thursday, January 14th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $175.30.
In other Crown Castle International news, Director Matthew Thornton III bought 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 9th. The stock was acquired at an average cost of $163.03 per share, with a total value of $244,545.00. Following the completion of the purchase, the director now directly owns 2,048 shares in the company, valued at $333,885.44. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kevin A. Stephens bought 2,000 shares of the business’s stock in a transaction that occurred on Monday, February 1st. The shares were acquired at an average cost of $164.15 per share, with a total value of $328,300.00. Following the completion of the purchase, the director now owns 4,086 shares of the company’s stock, valued at $670,716.90. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 3,600 shares of company stock valued at $588,547. Company insiders own 0.47% of the company’s stock.
About Crown Castle International
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.
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