Traders Purchase Large Volume of Put Options on Crown Castle International (CCI)
Crown Castle International Corp. (REIT) (NYSE:CCI) saw unusually large options trading activity on Tuesday. Stock traders bought 3,177 put options on the company. This represents an increase of 955% compared to the average daily volume of 301 put options.
In related news, VP Philip M. Kelley sold 10,551 shares of Crown Castle International stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 91,808 shares in the company, valued at approximately $10,382,566.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of CCI. Legacy Advisors LLC purchased a new position in shares of Crown Castle International during the 3rd quarter valued at approximately $100,000. Capital Analysts LLC increased its holdings in shares of Crown Castle International by 5.0% during the 2nd quarter. Capital Analysts LLC now owns 1,113 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 53 shares in the last quarter. Spectrum Management Group Inc. purchased a new position in shares of Crown Castle International during the 3rd quarter valued at approximately $124,000. Fieldpoint Private Securities LLC purchased a new stake in Crown Castle International in the 3rd quarter worth $137,000. Finally, Knights of Columbus Asset Advisors LLC purchased a new stake in Crown Castle International in the 3rd quarter worth $140,000. 94.87% of the stock is owned by hedge funds and other institutional investors.
Crown Castle International (NYSE:CCI) last posted its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.10 by ($0.07). The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Crown Castle International had a net margin of 11.35% and a return on equity of 5.93%. Crown Castle International’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $1.09 earnings per share. sell-side analysts anticipate that Crown Castle International will post 4.42 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.83%. This is a positive change from Crown Castle International’s previous quarterly dividend of $0.95. The ex-dividend date is Thursday, December 14th. Crown Castle International’s payout ratio is 316.67%.
Several analysts have commented on CCI shares. CIBC restated a “market perform” rating on shares of Crown Castle International in a research note on Monday, October 16th. BidaskClub upgraded shares of Crown Castle International from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 price objective for the company in a research note on Wednesday, September 20th. UBS cut shares of Crown Castle International from an “outperform” rating to a “market perform” rating in a research note on Monday, October 16th. Finally, Wells Fargo & Company lifted their price objective on shares of Crown Castle International from $112.50 to $116.00 and gave the company an “outperform” rating in a research note on Monday, October 23rd. Nine analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $110.58.
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About Crown Castle International
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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