Advisor Group Inc. Raises Holdings in Crown Castle International Corporation (CCI)

Advisor Group Inc. grew its holdings in shares of Crown Castle International Corporation (NYSE:CCI) by 6.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,391 shares of the real estate investment trust’s stock after purchasing an additional 2,081 shares during the quarter. Advisor Group Inc.’s holdings in Crown Castle International Corporation were worth $3,638,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Crown Castle International Corporation by 3.8% during the second quarter. Vanguard Group Inc. now owns 24,372,787 shares of the real estate investment trust’s stock worth $2,441,666,000 after purchasing an additional 891,908 shares during the period. BlackRock Inc. boosted its position in Crown Castle International Corporation by 4.2% during the second quarter. BlackRock Inc. now owns 24,254,770 shares of the real estate investment trust’s stock worth $2,429,841,000 after purchasing an additional 975,757 shares during the period. State Street Corp boosted its position in Crown Castle International Corporation by 1.0% during the first quarter. State Street Corp now owns 14,766,574 shares of the real estate investment trust’s stock worth $1,394,708,000 after purchasing an additional 147,313 shares during the period. Morgan Stanley boosted its position in Crown Castle International Corporation by 2.1% during the first quarter. Morgan Stanley now owns 7,860,425 shares of the real estate investment trust’s stock worth $742,417,000 after purchasing an additional 158,840 shares during the period. Finally, Jennison Associates LLC boosted its position in Crown Castle International Corporation by 762.8% during the second quarter. Jennison Associates LLC now owns 7,806,109 shares of the real estate investment trust’s stock worth $782,016,000 after purchasing an additional 6,901,353 shares during the period. Hedge funds and other institutional investors own 82.90% of the company’s stock.

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CCI has been the subject of a number of research reports. BidaskClub lowered shares of Crown Castle International Corporation from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 10th. Deutsche Bank AG raised their price objective on shares of Crown Castle International Corporation from $108.00 to $117.00 and gave the company a “buy” rating in a research report on Friday, June 9th. Macquarie restated a “buy” rating and issued a $107.00 price objective on shares of Crown Castle International Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $110.00 price objective on shares of Crown Castle International Corporation in a research report on Monday, July 10th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $107.00 price objective on shares of Crown Castle International Corporation in a research report on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $107.50.

Shares of Crown Castle International Corporation (NYSE CCI) traded down 0.98% during midday trading on Friday, reaching $100.60. 2,720,047 shares of the company were exchanged. The stock has a market capitalization of $40.87 billion, a P/E ratio of 80.29 and a beta of 0.18. Crown Castle International Corporation has a 12-month low of $79.38 and a 12-month high of $108.88. The company has a 50 day moving average price of $104.44 and a 200-day moving average price of $99.02.

Crown Castle International Corporation (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.03. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, analysts forecast that Crown Castle International Corporation will post $1.16 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.95 dividend. The ex-dividend date is Thursday, September 14th. This represents a $3.80 annualized dividend and a yield of 3.78%. Crown Castle International Corporation’s payout ratio is 304.00%.

In other news, Director J Landis Martin acquired 30,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were acquired at an average cost of $100.64 per share, with a total value of $3,019,200.00. Following the acquisition, the director now directly owns 99,335 shares of the company’s stock, valued at $9,997,074.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

Crown Castle International Corporation 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).

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

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