Traders Buy Crown Castle International (CCI) on Weakness

Traders purchased shares of Crown Castle International Corp. (REIT) (NYSE:CCI) on weakness during trading on Thursday. $133.63 million flowed into the stock on the tick-up and $87.45 million flowed out of the stock on the tick-down, for a money net flow of $46.18 million into the stock. Of all stocks tracked, Crown Castle International had the 5th highest net in-flow for the day. Crown Castle International traded down ($1.23) for the day and closed at $103.69

Several research analysts have weighed in on the company. KeyCorp lifted their target price on Crown Castle International from $106.00 to $114.00 in a research note on Monday, November 27th. Deutsche Bank lifted their price target on Crown Castle International from $117.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Wells Fargo & Co lifted their price target on Crown Castle International from $112.50 to $116.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Macquarie restated a “buy” rating and issued a $119.00 price target on shares of Crown Castle International in a research note on Sunday, October 22nd. Finally, Zacks Investment Research upgraded Crown Castle International from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $112.17.

The company has a current ratio of 7.13, a quick ratio of 7.13 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $42,130.00, a P/E ratio of 86.31, a price-to-earnings-growth ratio of 1.27 and a beta of 0.23.

Crown Castle International (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.07). Crown Castle International had a net margin of 11.35% and a return on equity of 5.93%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. equities research analysts expect that Crown Castle International Corp. will post 4.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were issued a dividend of $1.05 per share. The ex-dividend date of this dividend was Thursday, December 14th. This is a boost from Crown Castle International’s previous quarterly dividend of $0.95. This represents a $4.20 annualized dividend and a yield of 4.06%. Crown Castle International’s payout ratio is currently 350.00%.

In related news, VP Philip M. Kelley sold 10,551 shares of Crown Castle International stock in a transaction on Monday, November 6th. The stock was sold at an average price of $113.09, for a total transaction of $1,193,212.59. Following the completion of the transaction, the vice president now directly owns 91,808 shares of the company’s stock, valued at $10,382,566.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

A number of hedge funds have recently modified their holdings of CCI. Legacy Advisors LLC acquired a new position in Crown Castle International during the third quarter worth $100,000. Spectrum Management Group Inc. acquired a new position in Crown Castle International during the third quarter worth $124,000. Fieldpoint Private Securities LLC acquired a new position in Crown Castle International during the third quarter worth $137,000. Knights of Columbus Asset Advisors LLC acquired a new position in Crown Castle International during the third quarter worth $140,000. Finally, Crow Point Partners LLC acquired a new position in Crown Castle International during the third quarter worth $151,000. 94.82% of the stock is owned by hedge funds and other institutional investors.

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Crown Castle International 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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