Conning Inc. Decreases Stake in Crown Castle International Corporation (CCI)

Conning Inc. reduced its stake in Crown Castle International Corporation (NYSE:CCI) by 1.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 8,240 shares of the real estate investment trust’s stock after selling 100 shares during the period. Conning Inc.’s holdings in Crown Castle International Corporation were worth $825,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Guardian Life Insurance Co. of America boosted 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 valued at $131,000 after buying an additional 10 shares during the period. Bank of The West boosted its stake in shares of Crown Castle International Corporation by 0.7% in the first quarter. Bank of The West now owns 5,720 shares of the real estate investment trust’s stock valued at $540,000 after buying an additional 42 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in shares of Crown Castle International Corporation by 0.7% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 7,625 shares of the real estate investment trust’s stock valued at $764,000 after buying an additional 50 shares during the period. FineMark National Bank & Trust increased its stake in Crown Castle International Corporation by 1.2% in the second quarter. FineMark National Bank & Trust now owns 5,032 shares of the real estate investment trust’s stock valued at $504,000 after buying an additional 60 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in Crown Castle International Corporation by 1.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,470 shares of the real estate investment trust’s stock valued at $422,000 after buying an additional 76 shares during the last quarter. Hedge funds and other institutional investors own 84.16% of the company’s stock.

Crown Castle International Corporation (NYSE CCI) opened at 103.06 on Wednesday. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $104.68. The stock has a 50 day moving average price of $100.03 and a 200-day moving average price of $96.21. The firm has a market cap of $41.87 billion, a P/E ratio of 82.25 and a beta of 0.20.

Crown Castle International Corporation (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.03. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. Crown Castle International Corporation’s revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. Analysts predict that Crown Castle International Corporation will post $1.17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, September 14th. Crown Castle International Corporation’s dividend payout ratio is currently 304.00%.

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Several analysts have issued reports on the company. Deutsche Bank AG boosted their price objective on Crown Castle International Corporation from $108.00 to $117.00 and gave the stock a “buy” rating in a report on Friday, June 9th. Macquarie restated a “buy” rating and set a $107.00 price objective on shares of Crown Castle International Corporation in a report on Wednesday, July 19th. Barclays PLC cut their price objective on Crown Castle International Corporation from $101.00 to $95.00 and set an “equal weight” rating on the stock in a report on Monday, May 22nd. BidaskClub downgraded Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Finally, Citigroup Inc. cut their price objective on Crown Castle International Corporation from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $104.95.

In other Crown Castle International Corporation news, Director J Landis Martin purchased 30,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were bought at an average price of $100.64 per share, with a total value of $3,019,200.00. Following the completion of the transaction, 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 available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Crown Castle International Corporation Company 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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