Crown Castle International Corporation (CCI) Stake Lessened by California State Teachers Retirement System

California State Teachers Retirement System lowered its position in shares of Crown Castle International Corporation (NYSE:CCI) by 5.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 675,530 shares of the real estate investment trust’s stock after selling 41,672 shares during the period. California State Teachers Retirement System owned approximately 0.17% of Crown Castle International Corporation worth $67,674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Motco increased its holdings in shares of Crown Castle International Corporation by 127.0% during the 2nd quarter. Motco now owns 82,855 shares of the real estate investment trust’s stock worth $8,301,000 after buying an additional 46,351 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Crown Castle International Corporation by 25.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,616 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 1,146 shares during the last quarter. Eaton Vance Management increased its holdings in Crown Castle International Corporation by 10.5% in the 2nd quarter. Eaton Vance Management now owns 133,210 shares of the real estate investment trust’s stock valued at $13,345,000 after purchasing an additional 12,662 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in Crown Castle International Corporation by 8.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 45,674 shares of the real estate investment trust’s stock valued at $4,576,000 after purchasing an additional 3,491 shares during the last quarter. Finally, Investment Centers of America Inc. increased its holdings in Crown Castle International Corporation by 24.1% in the 2nd quarter. Investment Centers of America Inc. now owns 7,839 shares of the real estate investment trust’s stock valued at $790,000 after purchasing an additional 1,521 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Several research firms recently weighed in on CCI. Royal Bank Of Canada reiterated a “buy” rating and issued a $107.00 target price on shares of Crown Castle International Corporation in a report on Tuesday, August 29th. Bank of America Corporation lifted their target price on shares of Crown Castle International Corporation from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, September 8th. Citigroup Inc. lifted their target price on shares of Crown Castle International Corporation from $96.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, August 28th. BidaskClub upgraded shares of Crown Castle International Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded shares of Crown Castle International Corporation from a “hold” rating to a “strong-buy” rating and set a $120.00 target price for the company in a report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $107.50.

Shares of Crown Castle International Corporation (CCI) traded up 0.01% during trading on Tuesday, reaching $102.13. 700,260 shares of the company’s stock traded hands. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $108.88. The company has a market capitalization of $41.49 billion, a price-to-earnings ratio of 81.51 and a beta of 0.17. The stock has a 50-day moving average of $103.98 and a 200-day moving average of $100.03.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $1.05 earnings per share. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. On average, equities analysts predict that Crown Castle International Corporation will post $1.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a $0.95 dividend. This represents a $3.80 annualized dividend and a dividend yield of 3.72%. The ex-dividend date of this dividend was Thursday, September 14th. Crown Castle International Corporation’s payout ratio is currently 304.00%.

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In other Crown Castle International Corporation news, Director J Landis Martin acquired 30,000 shares of the company’s stock in a transaction dated Friday, July 28th. The stock was 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 of the company’s stock, valued at $9,997,074.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

About Crown Castle International Corporation

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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