Summit Financial Group Inc. Invests $220,000 in Crown Castle International Corporation (NYSE:CCI)

Summit Financial Group Inc. acquired a new position in Crown Castle International Corporation (NYSE:CCI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,192 shares of the real estate investment trust’s stock, valued at approximately $220,000.

Several other large investors also recently added to or reduced their stakes in the stock. BB&T Corp raised its stake in Crown Castle International Corporation by 188.2% in the first quarter. BB&T Corp now owns 89,579 shares of the real estate investment trust’s stock worth $8,462,000 after buying an additional 58,501 shares during the period. Congress Asset Management Co. MA raised its stake in Crown Castle International Corporation by 10.9% in the first quarter. Congress Asset Management Co. MA now owns 451,884 shares of the real estate investment trust’s stock worth $42,680,000 after buying an additional 44,430 shares during the period. Prudential Financial Inc. raised its stake in Crown Castle International Corporation by 2.2% in the first quarter. Prudential Financial Inc. now owns 911,885 shares of the real estate investment trust’s stock worth $86,128,000 after buying an additional 19,673 shares during the period. Norinchukin Bank The raised its stake in Crown Castle International Corporation by 7.1% in the first quarter. Norinchukin Bank The now owns 23,429 shares of the real estate investment trust’s stock worth $2,213,000 after buying an additional 1,553 shares during the period. Finally, Wetherby Asset Management Inc. raised its stake in Crown Castle International Corporation by 3.3% in the first quarter. Wetherby Asset Management Inc. now owns 3,942 shares of the real estate investment trust’s stock worth $373,000 after buying an additional 127 shares during the period. Hedge funds and other institutional investors own 84.16% of the company’s stock.

Shares of Crown Castle International Corporation (CCI) traded down 0.02% during trading on Friday, reaching $104.12. The company’s stock had a trading volume of 3,524,965 shares. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $105.05. The firm’s 50-day moving average price is $100.29 and its 200-day moving average price is $96.45. The company has a market capitalization of $42.30 billion, a price-to-earnings ratio of 83.10 and a beta of 0.20.

Crown Castle International Corporation (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Crown Castle International Corporation had a net margin of 11.14% and a return on equity of 6.21%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up 7.9% on a year-over-year basis. On average, equities analysts anticipate that Crown Castle International Corporation will post $1.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $0.95 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $3.80 annualized dividend and a dividend yield of 3.65%. Crown Castle International Corporation’s dividend payout ratio (DPR) is 304.00%.

ILLEGAL ACTIVITY NOTICE: “Summit Financial Group Inc. Invests $220,000 in Crown Castle International Corporation (NYSE:CCI)” was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this report on another website, it was illegally copied and republished in violation of United States & international copyright & trademark legislation. The correct version of this report can be accessed at https://www.com-unik.info/2017/08/19/2192-shares-in-crown-castle-international-corporation-nysecci-acquired-by-summit-financial-group-inc-updated.html.

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

In related news, Director J Landis Martin bought 30,000 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were acquired at an average price of $100.64 per share, for a total transaction of $3,019,200.00. Following the completion of the transaction, the director now directly owns 99,335 shares in the company, valued at $9,997,074.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

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).

Institutional Ownership by Quarter for Crown Castle International Corporation (NYSE:CCI)

What are top analysts saying about Crown Castle International Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Crown Castle International Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit