Investors sold shares of Crown Castle International Corporation (NYSE:CCI) on strength during trading on Tuesday. $38.96 million flowed into the stock on the tick-up and $87.62 million flowed out of the stock on the tick-down, for a money net flow of $48.66 million out of the stock. Of all stocks tracked, Crown Castle International Corporation had the 25th highest net out-flow for the day. Crown Castle International Corporation traded up $1.63 for the day and closed at $112.11
Several brokerages have recently weighed in on CCI. Deutsche Bank AG boosted their price objective on shares of Crown Castle International Corporation from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. KeyCorp restated a “hold” rating on shares of Crown Castle International Corporation in a research report on Tuesday, October 31st. Zacks Investment Research upgraded shares of Crown Castle International Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Wells Fargo & Company boosted their price objective on shares of Crown Castle International Corporation from $112.50 to $116.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Finally, Macquarie restated a “buy” rating and set a $119.00 price objective on shares of Crown Castle International Corporation in a research report on Sunday, October 22nd. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $110.29.
The company has a debt-to-equity ratio of 1.19, a quick ratio of 7.13 and a current ratio of 7.13. The firm has a market cap of $44,890.00, a P/E ratio of 23.21, a PEG ratio of 1.60 and a beta of 0.20.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $1.05 dividend. This is a boost from Crown Castle International Corporation’s previous quarterly dividend of $0.95. This represents a $4.20 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, December 14th. Crown Castle International Corporation’s payout ratio is currently 316.67%.
In other Crown Castle International Corporation news, VP Philip M. Kelley sold 10,551 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $113.09, for a total value of $1,193,212.59. Following the transaction, the vice president now directly owns 91,808 shares of the company’s stock, valued at approximately $10,382,566.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in CCI. Jennison Associates LLC increased its stake in Crown Castle International Corporation by 762.8% in the 2nd quarter. Jennison Associates LLC now owns 7,806,109 shares of the real estate investment trust’s stock valued at $782,016,000 after buying an additional 6,901,353 shares during the period. Janus Henderson Group PLC increased its stake in Crown Castle International Corporation by 2,414.4% in the 2nd quarter. Janus Henderson Group PLC now owns 5,554,608 shares of the real estate investment trust’s stock valued at $556,464,000 after buying an additional 5,333,700 shares during the period. Capital World Investors increased its stake in Crown Castle International Corporation by 12.6% in the 2nd quarter. Capital World Investors now owns 23,132,825 shares of the real estate investment trust’s stock valued at $2,317,446,000 after buying an additional 2,584,490 shares during the period. PointState Capital LP acquired a new position in Crown Castle International Corporation in the 2nd quarter valued at $188,265,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Crown Castle International Corporation by 43.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,357,951 shares of the real estate investment trust’s stock worth $535,687,000 after purchasing an additional 1,620,886 shares during the period. 87.01% of the stock is currently owned by institutional investors.
WARNING: This piece was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. and international trademark and copyright legislation. The correct version of this piece can be read at https://www.com-unik.info/2017/11/21/traders-sell-crown-castle-international-corporation-cci-on-strength-cci.html.
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).
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.