Investors Buy Large Volume of Crown Castle International Put Options (CCI)

Crown Castle International Corp. (REIT) (NYSE:CCI) saw some unusual options trading activity on Tuesday. Traders purchased 3,177 put options on the stock. This is an increase of approximately 955% compared to the typical daily volume of 301 put options.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Crown Castle International from a “hold” rating to a “buy” rating in a report on Monday, August 14th. Citigroup upped their target price on shares of Crown Castle International from $96.00 to $108.00 and gave the stock a “neutral” rating in a report on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $107.00 target price on shares of Crown Castle International in a report on Tuesday, August 29th. Bank of America upped their target price on shares of Crown Castle International from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Friday, September 8th. Finally, Zacks Investment Research raised shares of Crown Castle International from a “hold” rating to a “strong-buy” rating and set a $120.00 target price on the stock in a report on Wednesday, September 20th. Nine equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Crown Castle International presently has a consensus rating of “Buy” and a consensus price target of $110.58.

In other news, VP Philip M. Kelley sold 10,551 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were sold at an average price of $113.09, for a total value of $1,193,212.59. Following the sale, the vice president now owns 91,808 shares of the company’s stock, valued at $10,382,566.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CCI. Xact Kapitalforvaltning AB boosted its stake in shares of Crown Castle International by 17.1% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 38,850 shares of the real estate investment trust’s stock valued at $3,884,000 after purchasing an additional 5,668 shares in the last quarter. Highstreet Asset Management Inc. boosted its stake in shares of Crown Castle International by 101.0% in the 3rd quarter. Highstreet Asset Management Inc. now owns 9,463 shares of the real estate investment trust’s stock valued at $946,000 after purchasing an additional 4,756 shares in the last quarter. Spirit of America Management Corp NY boosted its stake in shares of Crown Castle International by 104.8% in the 3rd quarter. Spirit of America Management Corp NY now owns 8,600 shares of the real estate investment trust’s stock valued at $860,000 after purchasing an additional 4,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Crown Castle International by 25.6% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 5,616 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 1,146 shares in the last quarter. Finally, Motco boosted its stake in shares of Crown Castle International by 127.0% in the 2nd quarter. Motco now owns 82,855 shares of the real estate investment trust’s stock valued at $8,301,000 after purchasing an additional 46,351 shares in the last quarter. 94.87% of the stock is owned by institutional investors and hedge funds.

Crown Castle International (CCI) opened at $109.71 on Friday. The company has a quick ratio of 7.13, a current ratio of 7.13 and a debt-to-equity ratio of 1.19. Crown Castle International has a 12 month low of $83.96 and a 12 month high of $114.97. The company has a market cap of $44,206.79, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 1.59 and a beta of 0.22.

Crown Castle International (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.07). Crown Castle International had a return on equity of 5.93% and a net margin of 11.35%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $1.09 EPS. Crown Castle International’s quarterly revenue was up 7.2% on a year-over-year basis. sell-side analysts expect that Crown Castle International will post 4.42 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, December 14th. This is a boost from Crown Castle International’s previous quarterly dividend of $0.95. Crown Castle International’s payout ratio is currently 316.67%.

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Crown Castle International Company 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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