Traders Buy Crown Castle International (CCI) on Weakness

Traders bought shares of Crown Castle International Corp. (REIT) (NYSE:CCI) on weakness during trading hours on Thursday. $133.63 million flowed into the stock on the tick-up and $87.45 million flowed out of the stock on the tick-down, for a money net flow of $46.18 million into the stock. Of all companies tracked, Crown Castle International had the 5th highest net in-flow for the day. Crown Castle International traded down ($1.23) for the day and closed at $103.69

Several research analysts have commented on CCI shares. Barclays lifted their price target on Crown Castle International from $101.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Zacks Investment Research raised Crown Castle International from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Wells Fargo & Co lifted their price target on Crown Castle International from $112.50 to $116.00 and gave the stock an “outperform” rating in a research report on Monday, October 23rd. Macquarie reaffirmed a “buy” rating and set a $119.00 price target on shares of Crown Castle International in a research report on Sunday, October 22nd. Finally, Deutsche Bank lifted their price target on Crown Castle International from $117.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, November 17th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $112.17.

The company has a market cap of $42,630.00, a P/E ratio of 86.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.23. The company has a current ratio of 7.13, a quick ratio of 7.13 and a debt-to-equity ratio of 1.19.

Crown Castle International (NYSE:CCI) last announced 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). Crown Castle International had a net margin of 11.35% and a return on equity of 5.93%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. equities research analysts expect that Crown Castle International Corp. will post 4.42 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were paid a $1.05 dividend. This is an increase from Crown Castle International’s previous quarterly dividend of $0.95. This represents a $4.20 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, December 14th. Crown Castle International’s dividend payout ratio (DPR) is 350.00%.

In other Crown Castle International news, VP Philip M. Kelley sold 10,551 shares of Crown Castle International stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $113.09, for a total value of $1,193,212.59. Following the transaction, the vice president now directly owns 91,808 shares in the company, valued at approximately $10,382,566.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.

Several hedge funds have recently made changes to their positions in CCI. Janus Henderson Group PLC boosted its stake in shares of Crown Castle International by 2,414.4% in the second quarter. Janus Henderson Group PLC now owns 5,554,608 shares of the real estate investment trust’s stock valued at $556,464,000 after buying an additional 5,333,700 shares in the last quarter. Capital World Investors boosted its stake in shares of Crown Castle International by 12.6% in the second quarter. Capital World Investors now owns 23,132,825 shares of the real estate investment trust’s stock valued at $2,317,446,000 after buying an additional 2,584,490 shares in the last quarter. PointState Capital LP purchased a new stake in shares of Crown Castle International in the second quarter valued at approximately $188,265,000. Daiwa Securities Group Inc. boosted its stake in shares of Crown Castle International by 43.4% in the third quarter. Daiwa Securities Group Inc. now owns 5,357,951 shares of the real estate investment trust’s stock valued at $535,687,000 after buying an additional 1,620,886 shares in the last quarter. Finally, Magellan Asset Management Ltd purchased a new stake in shares of Crown Castle International in the second quarter valued at approximately $147,075,000. Institutional investors own 94.82% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Traders Buy Crown Castle International (CCI) on Weakness” was first reported by Markets Daily and is the property of of Markets Daily. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://www.themarketsdaily.com/2018/01/12/traders-buy-crown-castle-international-cci-on-weakness.html.

Crown Castle International Company 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).

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.

Latest News

Leave a Reply