Elkhorn Investments LLC bought a new position in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,708 shares of the real estate investment trust’s stock, valued at approximately $1,194,000.
Several other large investors have also made changes to their positions in CCI. Avestar Capital LLC acquired a new position in shares of Crown Castle International during the 4th quarter worth approximately $112,000. Spectrum Management Group Inc. acquired a new position in shares of Crown Castle International during the 3rd quarter worth approximately $124,000. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Crown Castle International during the 4th quarter worth approximately $124,000. Icon Wealth Partners LLC acquired a new stake in shares of Crown Castle International during the 4th quarter worth approximately $126,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Crown Castle International by 1,463.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after acquiring an additional 1,083 shares in the last quarter. Hedge funds and other institutional investors own 93.58% of the company’s stock.
Several research firms recently issued reports on CCI. Goldman Sachs Group lowered shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday. Zacks Investment Research upgraded shares of Crown Castle International from a “sell” rating to a “hold” rating in a research report on Monday, January 29th. Guggenheim reiterated a “buy” rating and set a $115.00 price target on shares of Crown Castle International in a research report on Friday, January 26th. Deutsche Bank reiterated a “buy” rating and set a $120.00 price target on shares of Crown Castle International in a research report on Monday, January 22nd. Finally, KeyCorp increased their price target on shares of Crown Castle International from $106.00 to $114.00 in a research report on Monday, November 27th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $113.33.
Shares of Crown Castle International Corp. (NYSE CCI) traded up $0.52 during trading hours on Wednesday, reaching $112.18. 122,762 shares of the company traded hands, compared to its average volume of 2,884,930. The company has a market cap of $45,325.39, a P/E ratio of 109.47, a price-to-earnings-growth ratio of 1.37 and a beta of 0.28. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.88 and a current ratio of 0.88. Crown Castle International Corp. has a fifty-two week low of $88.71 and a fifty-two week high of $114.97.
Crown Castle International (NYSE:CCI) last issued its quarterly earnings data on Wednesday, January 24th. The real estate investment trust reported $0.17 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.84). The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.14 billion. Crown Castle International had a net margin of 10.21% and a return on equity of 4.95%. Crown Castle International’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 EPS. equities analysts predict that Crown Castle International Corp. will post 5.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 3.74%. The ex-dividend date is Thursday, March 15th. Crown Castle International’s payout ratio is 411.77%.
TRADEMARK VIOLATION WARNING: “Elkhorn Investments LLC Buys Shares of 11,708 Crown Castle International Corp. (REIT) (CCI)” was originally reported by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/03/14/elkhorn-investments-llc-buys-shares-of-11708-crown-castle-international-corp-reit-cci.html.
Crown Castle International 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).
Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle International Corp. (REIT) (NYSE:CCI).
Receive News & Ratings for Crown Castle International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle International and related companies with MarketBeat.com's FREE daily email newsletter.