Ipswich Investment Management Co. Inc. Acquires 245 Shares of Crown Castle International Corp. (REIT) (NYSE:CCI)

Ipswich Investment Management Co. Inc. boosted its holdings in Crown Castle International Corp. (REIT) (NYSE:CCI) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,815 shares of the real estate investment trust’s stock after purchasing an additional 245 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Crown Castle International were worth $2,568,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CCI. Deutsche Bank AG increased its holdings in shares of Crown Castle International by 23.2% in the 2nd quarter. Deutsche Bank AG now owns 8,445,874 shares of the real estate investment trust’s stock worth $1,647,791,000 after buying an additional 1,588,394 shares during the last quarter. FMR LLC grew its holdings in Crown Castle International by 33.3% during the 2nd quarter. FMR LLC now owns 5,286,356 shares of the real estate investment trust’s stock valued at $1,031,369,000 after purchasing an additional 1,320,474 shares during the last quarter. Amundi bought a new position in Crown Castle International during the 2nd quarter valued at about $173,937,000. Morgan Stanley grew its holdings in Crown Castle International by 9.9% during the 2nd quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock valued at $1,860,558,000 after purchasing an additional 856,986 shares during the last quarter. Finally, Capital International Investors grew its holdings in Crown Castle International by 3.7% during the 2nd quarter. Capital International Investors now owns 18,362,162 shares of the real estate investment trust’s stock valued at $3,583,231,000 after purchasing an additional 658,562 shares during the last quarter. Institutional investors and hedge funds own 90.15% of the company’s stock.

In related news, Director Kevin A. Stephens acquired 1,110 shares of the business’s stock in a transaction dated Wednesday, October 27th. The stock was bought at an average price of $178.66 per share, for a total transaction of $198,312.60. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.45% of the company’s stock.

Several brokerages recently commented on CCI. Royal Bank of Canada cut their price target on shares of Crown Castle International from $210.00 to $202.00 and set an “outperform” rating on the stock in a report on Monday, October 25th. Wolfe Research started coverage on shares of Crown Castle International in a research note on Wednesday, October 13th. They issued an “underperform” rating and a $162.00 target price on the stock. Barclays upped their target price on shares of Crown Castle International from $215.00 to $221.00 and gave the stock an “overweight” rating in a research note on Friday, October 22nd. JPMorgan Chase & Co. dropped their target price on shares of Crown Castle International from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, September 30th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised shares of Crown Castle International from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $192.00 to $195.00 in a research report on Tuesday, October 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $196.08.

CCI stock opened at $182.78 on Tuesday. The company has a debt-to-equity ratio of 2.38, a current ratio of 0.67 and a quick ratio of 0.66. The business has a 50 day simple moving average of $179.97 and a 200-day simple moving average of $188.70. The firm has a market capitalization of $79.00 billion, a PE ratio of 60.32, a price-to-earnings-growth ratio of 2.75 and a beta of 0.41. Crown Castle International Corp. has a 1 year low of $146.15 and a 1 year high of $204.62.

Crown Castle International (NYSE:CCI) last released its quarterly earnings results on Tuesday, October 19th. The real estate investment trust reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.05. Crown Castle International had a return on equity of 14.75% and a net margin of 21.27%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Crown Castle International Corp. will post 6.58 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 31st. Investors of record on Wednesday, December 15th will be issued a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a yield of 3.22%. This is a positive change from Crown Castle International’s previous quarterly dividend of $1.33. The ex-dividend date of this dividend is Tuesday, December 14th. Crown Castle International’s dividend payout ratio is 175.58%.

About Crown Castle International

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

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