Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 23.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 313,607 shares of the real estate investment trust’s stock after buying an additional 60,590 shares during the quarter. Crown Castle International accounts for about 0.6% of Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s investment portfolio, making the stock its 18th biggest position. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned 0.07% of Crown Castle International worth $54,354,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CCI. Mattern Capital Management LLC boosted its holdings in shares of Crown Castle International by 2.9% in the third quarter. Mattern Capital Management LLC now owns 29,814 shares of the real estate investment trust’s stock valued at $5,167,000 after purchasing an additional 841 shares during the period. Deutsche Bank AG boosted its holdings in shares of Crown Castle International by 23.2% in the second quarter. Deutsche Bank AG now owns 8,445,874 shares of the real estate investment trust’s stock valued at $1,647,791,000 after purchasing an additional 1,588,394 shares during the period. Capital Square LLC lifted its holdings in Crown Castle International by 575.7% during the third quarter. Capital Square LLC now owns 11,156 shares of the real estate investment trust’s stock worth $1,930,000 after buying an additional 9,505 shares during the period. Comerica Bank lifted its holdings in Crown Castle International by 1.5% during the second quarter. Comerica Bank now owns 97,983 shares of the real estate investment trust’s stock worth $19,392,000 after buying an additional 1,406 shares during the period. Finally, Zacks Investment Management lifted its holdings in Crown Castle International by 0.7% during the second quarter. Zacks Investment Management now owns 294,006 shares of the real estate investment trust’s stock worth $57,361,000 after buying an additional 1,977 shares during the period. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Kevin A. Stephens bought 1,110 shares of the stock in a transaction dated Wednesday, October 27th. The stock was bought at an average price of $178.66 per share, for a total transaction of $198,312.60. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.45% of the company’s stock.
Crown Castle International (NYSE:CCI) last posted its earnings results on Tuesday, October 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Crown Castle International had a return on equity of 14.75% and a net margin of 21.27%. The business had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the business earned $1.56 EPS. Crown Castle International’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, analysts forecast that Crown Castle International Corp. will post 6.58 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were issued a dividend of $1.47 per share. The ex-dividend date of this dividend was Tuesday, December 14th. This is a boost from Crown Castle International’s previous quarterly dividend of $1.33. This represents a $5.88 annualized dividend and a yield of 3.21%. Crown Castle International’s dividend payout ratio is currently 194.06%.
A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered Crown Castle International from an “overweight” rating to a “neutral” rating and set a $200.00 target price for the company. in a report on Wednesday, January 5th. Bank of America upped their target price on Crown Castle International from $200.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, January 3rd. Credit Suisse Group raised Crown Castle International from a “neutral” rating to an “outperform” rating and upped their target price for the company from $192.00 to $195.00 in a research report on Tuesday, October 19th. Wolfe Research assumed coverage on Crown Castle International in a research report on Wednesday, October 13th. They set an “underperform” rating and a $162.00 price target on the stock. Finally, Jefferies Financial Group downgraded Crown Castle International from a “buy” rating to a “hold” rating and cut their price target for the stock from $226.00 to $203.00 in a research report on Monday. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $197.69.
Crown Castle International Company 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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