QS Investors LLC grew its holdings in Crown Castle International Corp. (REIT) (NYSE:CCI) by 15.9% during the fourth quarter, HoldingsChannel reports. The firm owned 148,662 shares of the real estate investment trust’s stock after acquiring an additional 20,356 shares during the period. QS Investors LLC’s holdings in Crown Castle International were worth $16,503,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. purchased a new position in Crown Castle International in the 4th quarter worth approximately $124,000. Icon Wealth Partners LLC acquired a new stake in shares of Crown Castle International during the 4th quarter worth approximately $126,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Crown Castle International by 1,463.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock worth $128,000 after buying an additional 1,083 shares during the last quarter. Spectrum Management Group Inc. acquired a new stake in shares of Crown Castle International during the 3rd quarter worth approximately $124,000. Finally, Fieldpoint Private Securities LLC acquired a new stake in shares of Crown Castle International during the 3rd quarter worth approximately $137,000. 92.63% of the stock is currently owned by institutional investors and hedge funds.
Shares of Crown Castle International Corp. (CCI) opened at $110.99 on Friday. The stock has a market cap of $44,860.00, a price-to-earnings ratio of 109.89, a PEG ratio of 1.35 and a beta of 0.28. Crown Castle International Corp. has a 1 year low of $88.71 and a 1 year high of $114.97. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.88 and a current ratio of 0.88.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Friday, March 16th will be given a $1.05 dividend. The ex-dividend date is Thursday, March 15th. This represents a $4.20 dividend on an annualized basis and a yield of 3.78%. Crown Castle International’s dividend payout ratio (DPR) is presently 415.84%.
Several analysts recently weighed in on CCI shares. Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of Crown Castle International in a report on Friday, January 26th. Deutsche Bank reiterated a “buy” rating and issued a $120.00 target price on shares of Crown Castle International in a report on Monday, January 22nd. KeyCorp lifted their target price on shares of Crown Castle International from $106.00 to $114.00 in a report on Monday, November 27th. Finally, Zacks Investment Research upgraded shares of Crown Castle International from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Crown Castle International has an average rating of “Buy” and an average target price of $113.33.
In related news, insider Jay A. Brown sold 18,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total value of $1,951,740.00. Following the completion of the sale, the insider now directly owns 162,526 shares of the company’s stock, valued at $17,622,694.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Kenneth Jay Simon sold 693 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $108.79, for a total transaction of $75,391.47. Following the completion of the sale, the senior vice president now directly owns 14,869 shares of the company’s stock, valued at $1,617,598.51. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.
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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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