Meadow Creek Investment Management LLC Grows Position in Crown Castle International Corp. (REIT) (CCI)

Meadow Creek Investment Management LLC lifted its stake in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 150.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,560 shares of the real estate investment trust’s stock after acquiring an additional 6,936 shares during the period. Meadow Creek Investment Management LLC’s holdings in Crown Castle International were worth $1,283,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Counselors Inc. raised its holdings in Crown Castle International by 4.8% during the fourth quarter. Financial Counselors Inc. now owns 80,326 shares of the real estate investment trust’s stock worth $8,917,000 after buying an additional 3,697 shares during the last quarter. Candriam Luxembourg S.C.A. raised its holdings in Crown Castle International by 4.4% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 28,797 shares of the real estate investment trust’s stock worth $3,197,000 after buying an additional 1,206 shares during the last quarter. Piedmont Investment Advisors LLC raised its holdings in Crown Castle International by 11.0% during the third quarter. Piedmont Investment Advisors LLC now owns 86,718 shares of the real estate investment trust’s stock worth $8,670,000 after buying an additional 8,597 shares during the last quarter. Private Advisor Group LLC raised its holdings in Crown Castle International by 33.3% during the third quarter. Private Advisor Group LLC now owns 15,539 shares of the real estate investment trust’s stock worth $1,580,000 after buying an additional 3,880 shares during the last quarter. Finally, Virtus Fund Advisers LLC raised its holdings in Crown Castle International by 116.0% during the fourth quarter. Virtus Fund Advisers LLC now owns 590,283 shares of the real estate investment trust’s stock worth $65,527,000 after buying an additional 316,952 shares during the last quarter. Institutional investors own 93.56% of the company’s stock.

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Several research firms have weighed in on CCI. Goldman Sachs downgraded shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 13th. Zacks Investment Research upgraded shares of Crown Castle International from a “sell” rating to a “hold” rating in a research note on Monday, January 29th. Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of Crown Castle International in a research note 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 research note on Monday, January 22nd. Finally, KeyCorp upped their target price on shares of Crown Castle International from $106.00 to $114.00 in a research note on Monday, November 27th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $113.33.

CCI stock opened at $108.87 on Wednesday. The firm has a market cap of $44,023.29, a PE ratio of 106.74, a P/E/G ratio of 1.33 and a beta of 0.28. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.30. Crown Castle International Corp. has a 1 year low of $90.44 and a 1 year high of $114.97.

Crown Castle International (NYSE:CCI) last posted its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.01 by ($0.84). The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.14 billion. Crown Castle International had a net margin of 10.21% and a return on equity of 4.95%. Crown Castle International’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 EPS. equities analysts forecast that Crown Castle International Corp. will post 5.26 EPS for the current year.

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 dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $4.20 annualized dividend and a yield of 3.86%. Crown Castle International’s payout ratio is currently 411.77%.

In related news, insider Jay A. Brown sold 18,000 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the completion of the transaction, the insider now owns 162,526 shares in the company, valued at $17,622,694.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Kenneth Jay Simon sold 693 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $108.79, for a total transaction of $75,391.47. Following the transaction, the senior vice president now owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate 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).

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

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