Raymond James Trust N.A. boosted its stake in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,275 shares of the real estate investment trust’s stock after buying an additional 1,334 shares during the quarter. Raymond James Trust N.A.’s holdings in Crown Castle International were worth $3,386,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of CCI. Wealth Architects LLC grew its position in shares of Crown Castle International by 5.4% during the 3rd quarter. Wealth Architects LLC now owns 1,278 shares of the real estate investment trust’s stock valued at $213,000 after acquiring an additional 65 shares during the period. Prestige Wealth Management Group LLC grew its stake in shares of Crown Castle International by 13.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 575 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 66 shares during the period. Cigna Investments Inc. New boosted its position in Crown Castle International by 0.5% during the third quarter. Cigna Investments Inc. New now owns 13,608 shares of the real estate investment trust’s stock worth $2,266,000 after purchasing an additional 66 shares during the period. Conning Inc. boosted its position in Crown Castle International by 1.2% during the third quarter. Conning Inc. now owns 5,983 shares of the real estate investment trust’s stock worth $996,000 after purchasing an additional 70 shares during the period. Finally, Meridian Wealth Advisors LLC boosted its position in Crown Castle International by 5.7% during the third quarter. Meridian Wealth Advisors LLC now owns 1,305 shares of the real estate investment trust’s stock worth $217,000 after purchasing an additional 70 shares during the period. Institutional investors own 90.07% of the company’s stock.
Shares of CCI opened at $152.69 on Thursday. The company has a market cap of $65.85 billion, a PE ratio of 95.43, a price-to-earnings-growth ratio of 1.15 and a beta of 0.30. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 2.02. The stock has a 50-day moving average price of $158.05 and a 200-day moving average price of $163.07. Crown Castle International Corp. has a 12-month low of $114.18 and a 12-month high of $180.00.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th were issued a dividend of $1.33 per share. This is an increase from Crown Castle International’s previous quarterly dividend of $1.20. This represents a $5.32 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Monday, December 14th. Crown Castle International’s payout ratio is currently 93.50%.
Several research firms recently commented on CCI. Credit Suisse Group cut their price objective on shares of Crown Castle International from $148.00 to $146.00 and set a “neutral” rating for the company in a report on Friday, October 23rd. BidaskClub lowered Crown Castle International from a “hold” rating to a “sell” rating in a report on Saturday, December 12th. Raymond James raised Crown Castle International from a “market perform” rating to an “outperform” rating and set a $172.00 price target for the company in a report on Monday, October 26th. Deutsche Bank Aktiengesellschaft upgraded Crown Castle International from a “hold” rating to a “buy” rating and raised their target price for the stock from $177.00 to $180.00 in a research note on Friday, December 11th. Finally, Wells Fargo & Company raised their target price on Crown Castle International from $170.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $175.30.
In related news, COO James D. Young sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $164.32, for a total value of $985,920.00. Following the completion of the sale, the chief operating officer now owns 186,679 shares in the company, valued at approximately $30,675,093.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director J Landis Martin bought 6,250 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was purchased at an average price of $161.22 per share, with a total value of $1,007,625.00. Following the transaction, the director now directly owns 139,543 shares in the company, valued at $22,497,122.46. The disclosure for this purchase can be found here. Insiders own 0.47% of the company’s stock.
About Crown Castle International
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.
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