Traders Sell Crown Castle International Corporation (CCI) on Strength (CCI)

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.

Crown Castle International Corporation (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.10 by ($0.07). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. Crown Castle International Corporation had a net margin of 11.35% and a return on equity of 5.93%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. equities analysts forecast that Crown Castle International Corporation will post 4.43 EPS for the current fiscal year.

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.

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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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