Boston Private Wealth LLC cut its position in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 12.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,895 shares of the real estate investment trust’s stock after selling 550 shares during the quarter. Boston Private Wealth LLC’s holdings in Crown Castle International were worth $671,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vantage Consulting Group Inc purchased a new stake in shares of Crown Castle International during the fourth quarter worth about $27,000. Curi Capital purchased a new stake in shares of Crown Castle International during the fourth quarter worth about $27,000. TCI Wealth Advisors Inc. grew its holdings in shares of Crown Castle International by 55.1% during the first quarter. TCI Wealth Advisors Inc. now owns 183 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 65 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in shares of Crown Castle International during the fourth quarter worth about $29,000. Finally, Vectors Research Management LLC purchased a new stake in shares of Crown Castle International during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 90.36% of the company’s stock.
A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle International from $189.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, April 29th. KeyCorp boosted their target price on shares of Crown Castle International from $193.00 to $207.00 and gave the company an “overweight” rating in a report on Friday, April 23rd. Morgan Stanley upgraded shares of Crown Castle International from an “in-line” rating to an “overweight” rating and boosted their target price for the company from $200.00 to $204.00 in a report on Wednesday, June 2nd. Wolfe Research assumed coverage on shares of Crown Castle International in a report on Wednesday, March 24th. They issued a “peer perform” rating and a $165.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on shares of Crown Castle International in a report on Monday, April 12th. They issued a “buy” rating and a $205.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $187.86.
Crown Castle International (NYSE:CCI) last posted its earnings results on Tuesday, April 20th. The real estate investment trust reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.25). Crown Castle International had a return on equity of 10.52% and a net margin of 16.80%. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $0.38 earnings per share. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Crown Castle International Corp. will post 6.5 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Monday, June 14th will be issued a $1.33 dividend. The ex-dividend date is Friday, June 11th. This represents a $5.32 annualized dividend and a yield of 2.66%. Crown Castle International’s dividend payout ratio is presently 78.47%.
In related news, VP Robert Sean Collins sold 700 shares of the company’s stock in a transaction on Thursday, May 27th. The shares were sold at an average price of $188.67, for a total value of $132,069.00. Following the sale, the vice president now directly owns 6,299 shares of the company’s stock, valued at $1,188,432.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Landis Martin purchased 1,180 shares of the business’s stock in a transaction that occurred on Monday, March 15th. The stock was bought at an average cost of $160.99 per share, for a total transaction of $189,968.20. Following the completion of the acquisition, the director now directly owns 145,620 shares of the company’s stock, valued at $23,443,363.80. The disclosure for this purchase can be found here. Corporate insiders own 0.45% of the company’s stock.
Crown Castle International Profile
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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