774,198 Shares in Crown Castle International Corp. (CCI) Purchased by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC acquired a new stake in Crown Castle International Corp. (NYSE:CCI) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 774,198 shares of the real estate investment trust’s stock, valued at approximately $84,860,000. Crown Castle International makes up 1.0% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 24th largest holding. Ceredex Value Advisors LLC owned approximately 0.19% of Crown Castle International at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Magellan Asset Management Ltd grew its holdings in shares of Crown Castle International by 5.4% in the fourth quarter. Magellan Asset Management Ltd now owns 12,647,428 shares of the real estate investment trust’s stock valued at $1,403,991,000 after purchasing an additional 653,226 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Crown Castle International by 22.7% in the fourth quarter. Alliancebernstein L.P. now owns 7,247,868 shares of the real estate investment trust’s stock valued at $804,586,000 after purchasing an additional 1,338,562 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Crown Castle International by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 5,395,800 shares of the real estate investment trust’s stock valued at $598,988,000 after purchasing an additional 481,800 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Crown Castle International by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,893,575 shares of the real estate investment trust’s stock valued at $431,202,000 after purchasing an additional 131,806 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Crown Castle International by 1.6% in the fourth quarter. Swiss National Bank now owns 1,957,349 shares of the real estate investment trust’s stock valued at $217,285,000 after purchasing an additional 31,400 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

CCI has been the subject of a number of research reports. Goldman Sachs cut shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 13th. Guggenheim reiterated a “buy” rating and issued a $115.00 price target on shares of Crown Castle International in a research note on Friday, January 26th. Cowen reiterated a “buy” rating and issued a $119.00 price target on shares of Crown Castle International in a research note on Friday, April 20th. Deutsche Bank reiterated a “buy” rating and issued a $120.00 price target on shares of Crown Castle International in a research note on Monday, January 22nd. Finally, Zacks Investment Research downgraded shares of Crown Castle International from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $114.75.

Shares of Crown Castle International stock opened at $101.91 on Friday. Crown Castle International Corp. has a 52-week low of $102.90 and a 52-week high of $103.38. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 1.22. The company has a market capitalization of $42.84 billion, a P/E ratio of 21.01, a PEG ratio of 1.27 and a beta of 0.29.

Crown Castle International (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 18th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $1.19 by ($0.98). The company had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. Crown Castle International had a return on equity of 4.06% and a net margin of 8.87%. The firm’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. equities research analysts anticipate that Crown Castle International Corp. will post 5.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 4.12%. Crown Castle International’s dividend payout ratio is presently 86.60%.

In related news, Director Anthony J. Melone acquired 1,979 shares of Crown Castle International stock in a transaction dated Friday, April 27th. The stock was acquired at an average price of $101.06 per share, for a total transaction of $199,997.74. Following the transaction, the director now owns 10,547 shares of the company’s stock, valued at $1,065,879.82. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kenneth Jay Simon sold 693 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $108.79, for a total transaction of $75,391.47. Following the sale, the senior vice president now owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.

Crown Castle International Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.

Institutional Ownership by Quarter for Crown Castle International (NYSE:CCI)

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