Banque Cantonale Vaudoise Sells 5,962 Shares of Crown Castle International Corp. (NYSE:CCI)

Banque Cantonale Vaudoise decreased its position in Crown Castle International Corp. (NYSE:CCIGet Rating) by 37.5% in the 1st quarter, HoldingsChannel reports. The fund owned 9,949 shares of the real estate investment trust’s stock after selling 5,962 shares during the period. Banque Cantonale Vaudoise’s holdings in Crown Castle International were worth $1,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in Crown Castle International by 15.3% during the 4th quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock valued at $7,725,650,000 after purchasing an additional 4,919,828 shares in the last quarter. Norges Bank bought a new position in Crown Castle International during the fourth quarter worth about $815,548,000. State Street Corp lifted its holdings in Crown Castle International by 4.8% during the fourth quarter. State Street Corp now owns 19,664,166 shares of the real estate investment trust’s stock worth $4,104,698,000 after acquiring an additional 896,553 shares in the last quarter. London Co. of Virginia raised its stake in shares of Crown Castle International by 22.2% in the 4th quarter. London Co. of Virginia now owns 2,099,904 shares of the real estate investment trust’s stock valued at $438,334,000 after purchasing an additional 381,823 shares during the period. Finally, Cbre Investment Management Listed Real Assets LLC raised its stake in shares of Crown Castle International by 24.9% in the 1st quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,836,918 shares of the real estate investment trust’s stock valued at $339,095,000 after purchasing an additional 365,735 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Buying and Selling at Crown Castle International

In other Crown Castle International news, Director Kevin A. Stephens bought 699 shares of Crown Castle International stock in a transaction on Friday, July 22nd. The stock was acquired at an average cost of $173.60 per share, with a total value of $121,346.40. Following the completion of the acquisition, the director now owns 10,703 shares in the company, valued at $1,858,040.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.47% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CCI shares. Morgan Stanley reduced their price objective on Crown Castle International from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. Jefferies Financial Group upgraded Crown Castle International from a “hold” rating to a “buy” rating and increased their price objective for the company from $191.00 to $200.00 in a report on Thursday, June 30th. Wells Fargo & Company cut their price target on shares of Crown Castle International from $180.00 to $175.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 19th. KeyCorp cut their price objective on shares of Crown Castle International from $219.00 to $205.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Finally, StockNews.com lowered shares of Crown Castle International from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $196.06.

Crown Castle International Stock Up 0.0 %

CCI opened at $178.40 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.69 and a debt-to-equity ratio of 2.70. The firm has a 50 day moving average price of $173.58 and a 200-day moving average price of $177.86. Crown Castle International Corp. has a twelve month low of $153.70 and a twelve month high of $209.87. The stock has a market capitalization of $77.25 billion, a price-to-earnings ratio of 50.11 and a beta of 0.58.

Crown Castle International (NYSE:CCIGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.71 by ($0.74). Crown Castle International had a net margin of 22.91% and a return on equity of 18.93%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the firm earned $1.71 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities research analysts forecast that Crown Castle International Corp. will post 7.03 earnings per share for the current year.

Crown Castle International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $1.47 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $5.88 dividend on an annualized basis and a yield of 3.30%. Crown Castle International’s dividend payout ratio is currently 165.17%.

About Crown Castle International

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

Further Reading

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

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