Ladenburg Thalmann Financial Services Inc. decreased its holdings in shares of Crown Castle International Corp. (REIT) (NYSE:CCI) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,131 shares of the real estate investment trust’s stock after selling 856 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Crown Castle International were worth $4,119,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Avestar Capital LLC bought a new position in shares of Crown Castle International in the fourth quarter valued at approximately $112,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Crown Castle International in the fourth quarter valued at approximately $124,000. Icon Wealth Partners LLC bought a new position in shares of Crown Castle International in the fourth quarter valued at approximately $126,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Crown Castle International by 1,463.5% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,157 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 1,083 shares during the last quarter. Finally, Fieldpoint Private Securities LLC bought a new position in shares of Crown Castle International in the third quarter valued at approximately $137,000. Hedge funds and other institutional investors own 93.56% of the company’s stock.
Shares of Crown Castle International Corp. (CCI) opened at $108.19 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 1.30. The firm has a market cap of $44,385.44, a P/E ratio of 22.54, a P/E/G ratio of 1.34 and a beta of 0.28. Crown Castle International Corp. has a fifty-two week low of $89.78 and a fifty-two week high of $114.97.
Crown Castle International (NYSE:CCI) last issued its quarterly earnings results on Wednesday, January 24th. The real estate investment trust reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.84). The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.14 billion. Crown Castle International had a net margin of 10.21% and a return on equity of 4.95%. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.10 EPS. research analysts expect 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 issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Thursday, March 15th. Crown Castle International’s dividend payout ratio is currently 411.77%.
In related news, insider Jay A. Brown sold 18,000 shares of the firm’s stock in a transaction that occurred 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 owns 162,526 shares of the company’s stock, valued at $17,622,694.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Kenneth Jay Simon sold 693 shares of the firm’s stock in a transaction that occurred 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 approximately $1,617,598.51. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.
CCI has been the subject of a number of research analyst reports. Goldman Sachs cut shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, March 13th. KeyCorp lifted their target price on shares of Crown Castle International from $106.00 to $114.00 in a research note on Monday, November 27th. 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, 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. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $113.33.
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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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