New York State Common Retirement Fund Grows Stake in Crown Castle International Corporation (CCI)

New York State Common Retirement Fund lifted its position in shares of Crown Castle International Corporation (NYSE:CCI) by 2.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 944,700 shares of the real estate investment trust’s stock after buying an additional 22,899 shares during the quarter. New York State Common Retirement Fund owned approximately 0.26% of Crown Castle International Corporation worth $94,640,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd acquired a new position in shares of Crown Castle International Corporation during the 2nd quarter worth $147,075,000. Thrivent Financial For Lutherans raised its stake in shares of Crown Castle International Corporation by 1.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 111,992 shares of the real estate investment trust’s stock worth $11,220,000 after buying an additional 2,050 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in shares of Crown Castle International Corporation by 36.8% during the 2nd quarter. Westfield Capital Management Co. LP now owns 265,551 shares of the real estate investment trust’s stock worth $26,603,000 after buying an additional 71,368 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Crown Castle International Corporation by 1.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 50,604 shares of the real estate investment trust’s stock worth $5,070,000 after buying an additional 685 shares during the last quarter. Finally, Profund Advisors LLC raised its stake in shares of Crown Castle International Corporation by 22.5% during the 2nd quarter. Profund Advisors LLC now owns 23,116 shares of the real estate investment trust’s stock worth $2,316,000 after buying an additional 4,243 shares during the last quarter. 82.90% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently issued reports on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $107.00 price target on shares of Crown Castle International Corporation in a research note on Tuesday, August 29th. Citigroup Inc. lifted their price objective on Crown Castle International Corporation from $96.00 to $108.00 and gave the stock a “neutral” rating in a research report on Monday, August 28th. Bank of America Corporation lifted their price objective on Crown Castle International Corporation from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. BidaskClub upgraded Crown Castle International Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 23rd. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Crown Castle International Corporation in a research report on Monday, June 12th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $106.45.

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In related news, Director J Landis Martin bought 30,000 shares of Crown Castle International Corporation stock in a transaction dated Friday, July 28th. The stock was acquired at an average cost of $100.64 per share, with a total value of $3,019,200.00. Following the completion of the acquisition, the director now directly owns 99,335 shares in the company, valued at approximately $9,997,074.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Crown Castle International Corporation (NYSE CCI) traded down 3.40% during mid-day trading on Tuesday, reaching $100.94. The company’s stock had a trading volume of 1,777,406 shares. Crown Castle International Corporation has a 1-year low of $79.38 and a 1-year high of $108.88. The firm has a 50-day moving average of $104.39 and a 200 day moving average of $98.94. The firm has a market capitalization of $41.01 billion, a price-to-earnings ratio of 80.56 and a beta of 0.18.

Crown Castle International Corporation (NYSE:CCI) last announced its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 EPS for the quarter, beating the 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 business posted $1.05 earnings per share. Crown Castle International Corporation’s revenue was up 7.9% compared to the same quarter last year. Equities analysts expect that Crown Castle International Corporation will post $1.16 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.95 per share. This represents a $3.80 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Thursday, September 14th. Crown Castle International Corporation’s dividend payout ratio is 304.00%.

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).

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

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