Envestnet Asset Management Inc. Cuts Stake in Crown Castle International Corp. (REIT) (CCI)

Envestnet Asset Management Inc. trimmed its position in Crown Castle International Corp. (REIT) (NYSE:CCI) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 124,920 shares of the real estate investment trust’s stock after selling 18,348 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Crown Castle International were worth $12,487,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Grisanti Capital Management LLC raised its holdings in shares of Crown Castle International by 10.2% during the 3rd quarter. Grisanti Capital Management LLC now owns 20,105 shares of the real estate investment trust’s stock valued at $2,010,000 after buying an additional 1,855 shares during the period. Private Advisor Group LLC raised its holdings in shares of Crown Castle International by 33.3% during the 3rd quarter. Private Advisor Group LLC now owns 15,539 shares of the real estate investment trust’s stock valued at $1,580,000 after buying an additional 3,880 shares during the period. Financial Counselors Inc. raised its holdings in shares of Crown Castle International by 0.7% during the 3rd quarter. Financial Counselors Inc. now owns 76,629 shares of the real estate investment trust’s stock valued at $7,661,000 after buying an additional 568 shares during the period. BB&T Investment Services Inc. raised its holdings in shares of Crown Castle International by 24.0% during the 3rd quarter. BB&T Investment Services Inc. now owns 8,073 shares of the real estate investment trust’s stock valued at $797,000 after buying an additional 1,564 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of Crown Castle International by 5.5% during the 3rd quarter. Stifel Financial Corp now owns 929,292 shares of the real estate investment trust’s stock valued at $92,808,000 after buying an additional 48,216 shares during the period. Institutional investors own 94.87% of the company’s stock.

Several equities research analysts recently commented on CCI shares. BidaskClub upgraded Crown Castle International from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Citigroup raised their target price on Crown Castle International from $96.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, August 28th. Royal Bank Of Canada reiterated a “buy” rating and set a $107.00 target price on shares of Crown Castle International in a report on Tuesday, August 29th. Bank of America raised their target price on Crown Castle International from $107.00 to $114.00 and gave the company a “buy” rating in a report on Friday, September 8th. Finally, Zacks Investment Research upgraded 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. Nine analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $110.58.

Crown Castle International Corp. (CCI) traded up $0.37 during mid-day trading on Thursday, reaching $109.18. The company’s stock had a trading volume of 2,812,600 shares, compared to its average volume of 2,359,867. The company has a quick ratio of 7.13, a current ratio of 7.13 and a debt-to-equity ratio of 1.19. Crown Castle International Corp. has a 52 week low of $83.39 and a 52 week high of $114.97. The stock has a market cap of $44,206.79, a P/E ratio of 22.96, a PEG ratio of 1.59 and a beta of 0.22.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $1.05 per share. The ex-dividend date is Thursday, December 14th. This is an increase from Crown Castle International’s previous quarterly dividend of $0.95. This represents a $4.20 annualized dividend and a yield of 3.85%. Crown Castle International’s payout ratio is currently 316.67%.

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 transaction of $1,193,212.59. Following the sale, the vice president now directly 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 available through the SEC website. 0.41% of the stock is owned by insiders.

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Crown Castle International 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).

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Institutional Ownership by Quarter for Crown Castle International (NYSE:CCI)

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