Investors bought shares of Crown Castle International Corp. (REIT) (NYSE:CCI) on weakness during trading hours on Friday. $66.10 million flowed into the stock on the tick-up and $36.77 million flowed out of the stock on the tick-down, for a money net flow of $29.33 million into the stock. Of all equities tracked, Crown Castle International had the 29th highest net in-flow for the day. Crown Castle International traded down ($0.12) for the day and closed at $103.57
CCI has been the topic of several recent research reports. Zacks Investment Research raised shares of Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Wednesday, September 20th. Cowen reaffirmed an “outperform” rating and set a $112.00 target price (up from $105.00) on shares of Crown Castle International in a report on Saturday, September 23rd. UBS Group cut shares of Crown Castle International from an “outperform” rating to a “market perform” rating in a report on Monday, October 16th. Oppenheimer reaffirmed a “market perform” rating on shares of Crown Castle International in a report on Monday, October 16th. Finally, CIBC reaffirmed a “market perform” rating on shares of Crown Castle International in a report on Monday, October 16th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $112.17.
The company has a quick ratio of 7.13, a current ratio of 7.13 and a debt-to-equity ratio of 1.19. The stock has a market cap of $42,130.00, a PE ratio of 86.31, a PEG ratio of 1.33 and a beta of 0.23.
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $1.05 per share. This is a positive change from Crown Castle International’s previous quarterly dividend of $0.95. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $4.20 annualized dividend and a dividend yield of 4.06%. Crown Castle International’s dividend payout ratio (DPR) is currently 350.00%.
In related news, VP Philip M. Kelley sold 10,551 shares of the stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $113.09, for a total transaction of $1,193,212.59. Following the sale, the vice president now 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 is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legacy Advisors LLC acquired a new stake in shares of Crown Castle International during the 3rd quarter worth approximately $100,000. Spectrum Management Group Inc. acquired a new stake in shares of Crown Castle International during the 3rd quarter worth approximately $124,000. Fieldpoint Private Securities LLC acquired a new stake in shares of Crown Castle International during the 3rd quarter worth approximately $137,000. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Crown Castle International during the 3rd quarter worth approximately $140,000. Finally, Crow Point Partners LLC acquired a new stake in shares of Crown Castle International during the 3rd quarter worth approximately $151,000. Institutional investors and hedge funds own 94.82% of the company’s stock.
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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