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.
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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