Bank of New York Mellon Corp decreased its position in Crown Castle International Corp. (NYSE:CCI) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 2,999,677 shares of the real estate investment trust’s stock after selling 11,643 shares during the period. Bank of New York Mellon Corp’s holdings in Crown Castle International Corp. were worth $282,601,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Ladenburg Thalmann Financial Services Inc. increased its stake in Crown Castle International Corp. by 8.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,521 shares of the real estate investment trust’s stock worth $651,000 after buying an additional 615 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Crown Castle International Corp. by 15.6% in the first quarter. First Republic Investment Management Inc. now owns 25,113 shares of the real estate investment trust’s stock worth $2,173,000 after buying an additional 3,391 shares during the last quarter. Boothbay Fund Management LLC increased its stake in Crown Castle International Corp. by 49.6% in the first quarter. Boothbay Fund Management LLC now owns 6,036 shares of the real estate investment trust’s stock worth $522,000 after buying an additional 2,000 shares during the last quarter. Fulton Bank N.A. purchased a new stake in Crown Castle International Corp. during the second quarter worth $1,119,000. Finally, Curbstone Financial Management Corp purchased a new stake in Crown Castle International Corp. during the second quarter worth $480,000. Institutional investors own 89.48% of the company’s stock.

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

Crown Castle International Corp. (NYSE:CCI) opened at 85.23 on Wednesday. The firm has a 50-day moving average price of $88.45 and a 200-day moving average price of $93.33. The firm has a market capitalization of $28.77 billion, a PE ratio of 87.69 and a beta of 0.35. Crown Castle International Corp. has a 1-year low of $75.71 and a 1-year high of $102.82.

Crown Castle International Corp. (NYSE:CCI) last announced its earnings results on Thursday, October 20th. The real estate investment trust reported $1.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.18 by $0.09. The company had revenue of $992 million for the quarter, compared to the consensus estimate of $968.15 million. Crown Castle International Corp. had a return on equity of 4.84% and a net margin of 9.45%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.07 earnings per share. Equities analysts expect that Crown Castle International Corp. will post $4.74 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Friday, December 16th will be given a dividend of $0.95 per share. This is a positive change from Crown Castle International Corp.’s previous quarterly dividend of $0.89. This represents a $3.80 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Wednesday, December 14th. Crown Castle International Corp.’s dividend payout ratio (DPR) is currently 361.23%.

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CCI has been the subject of a number of recent research reports. Jefferies Group restated a “buy” rating on shares of Crown Castle International Corp. in a research report on Saturday, August 6th. Oppenheimer Holdings Inc. upgraded Crown Castle International Corp. from a “market perform” rating to an “outperform” rating and set a $109.00 target price for the company in a research report on Tuesday, September 6th. SunTrust Banks Inc. initiated coverage on Crown Castle International Corp. in a research report on Monday, September 12th. They set a “buy” rating and a $107.00 target price for the company. Citigroup Inc. dropped their target price on Crown Castle International Corp. from $109.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, September 16th. Finally, Zacks Investment Research upgraded Crown Castle International Corp. from a “hold” rating to a “strong-buy” rating and set a $109.00 price objective for the company in a report on Monday, September 26th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $103.21.

In other Crown Castle International Corp. news, CFO Daniel K. Schlanger acquired 3,140 shares of the stock in a transaction dated Monday, November 14th. The stock was purchased at an average cost of $79.74 per share, with a total value of $250,383.60. Following the transaction, the chief financial officer now owns 3,140 shares in the company, valued at approximately $250,383.60. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Vice Chairman W Benjamin Moreland sold 50,000 shares of Crown Castle International Corp. stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $98.23, for a total value of $4,911,500.00. Following the completion of the transaction, the insider now directly owns 533,972 shares of the company’s stock, valued at $52,452,069.56. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

About Crown Castle International Corp.

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).

5 Day Chart for NYSE:CCI

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