Investors Buy Crown Castle International (CCI) on Weakness

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.

Crown Castle International (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.07). The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. Crown Castle International had a return on equity of 5.93% and a net margin of 11.35%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. equities research analysts expect that Crown Castle International Corp. will post 4.42 earnings per share for the current year.

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.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another domain, it was illegally stolen and republished in violation of United States and international copyright and trademark law. The original version of this piece of content can be accessed at https://www.themarketsdaily.com/2018/01/13/investors-buy-crown-castle-international-cci-on-weakness.html.

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).

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