Crown Castle International (NYSE:CCI) Shares Down 4.3%

Shares of Crown Castle International Corp. (REIT) (NYSE:CCI) fell 4.3% on Thursday . The company traded as low as $189.42 and last traded at $192.42. 14,422 shares traded hands during trading, a decline of 99% from the average session volume of 1,266,765 shares. The stock had previously closed at $201.10.

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle International from $189.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, April 29th. Deutsche Bank Aktiengesellschaft boosted their target price on Crown Castle International from $195.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, June 11th. Oppenheimer lifted their target price on shares of Crown Castle International from $170.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. Royal Bank of Canada upped their price target on shares of Crown Castle International from $176.00 to $210.00 and gave the company an “outperform” rating in a report on Monday, April 26th. Finally, Jefferies Financial Group initiated coverage on Crown Castle International in a research note on Monday, April 12th. They issued a “buy” rating and a $205.00 price objective on the stock. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $189.54.

The company has a debt-to-equity ratio of 2.21, a current ratio of 0.61 and a quick ratio of 0.61. The stock has a market capitalization of $83.18 billion, a price-to-earnings ratio of 89.78, a price-to-earnings-growth ratio of 1.49 and a beta of 0.37. The business has a 50-day moving average price of $194.68.

Crown Castle International (NYSE:CCI) last announced its quarterly earnings data on Tuesday, July 20th. The real estate investment trust reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.08. Crown Castle International had a return on equity of 10.52% and a net margin of 16.80%. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same quarter last year, the company earned $0.41 EPS. The company’s quarterly revenue was up 9.9% on a year-over-year basis. Sell-side analysts predict that Crown Castle International Corp. will post 6.48 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Investors of record on Monday, June 14th were given a $1.33 dividend. The ex-dividend date of this dividend was Friday, June 11th. This represents a $5.32 annualized dividend and a yield of 2.76%. Crown Castle International’s dividend payout ratio (DPR) is currently 78.47%.

In related news, VP Robert Sean Collins sold 700 shares of the stock in a transaction dated Thursday, May 27th. The shares were sold at an average price of $188.67, for a total value of $132,069.00. Following the completion of the transaction, the vice president now owns 6,299 shares of the company’s stock, valued at $1,188,432.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin A. Stephens purchased 310 shares of the business’s stock in a transaction on Friday, May 14th. The shares were acquired at an average price of $181.53 per share, with a total value of $56,274.30. Following the purchase, the director now owns 5,487 shares of the company’s stock, valued at $996,055.11. The disclosure for this purchase can be found here. 0.45% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Marshall Wace LLP bought a new position in shares of Crown Castle International during the first quarter valued at $118,000. Eaton Vance Management lifted its holdings in Crown Castle International by 1.6% during the 4th quarter. Eaton Vance Management now owns 459,794 shares of the real estate investment trust’s stock valued at $73,194,000 after purchasing an additional 7,165 shares during the last quarter. Vantage Consulting Group Inc acquired a new position in Crown Castle International in the fourth quarter valued at about $27,000. Tompkins Financial Corp bought a new stake in Crown Castle International during the fourth quarter worth about $108,000. Finally, Principle Wealth Partners LLC acquired a new stake in shares of Crown Castle International during the fourth quarter worth approximately $256,000. Institutional investors and hedge funds own 90.31% of the company’s stock.

About Crown Castle International (NYSE:CCI)

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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