Today, Duff & Phelps Investment Management Co. Increases Stake in Crown Castle International Corp. (CCI)

Today, Duff & Phelps Investment Management Co. Increases Stake in Crown Castle International Corp. (CCI)

Duff & Phelps Investment Management Co. increased its stake in Crown Castle International Corp. (NYSE:CCI) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 985,940 shares of the real estate investment trust’s stock after buying an additional 56,750 shares during the period. Crown Castle International Corp. comprises approximately 1.3% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 18th largest position. Duff & Phelps Investment Management Co.’s holdings in Crown Castle International Corp. were worth $92,886,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CCI. Private Bank & Trust Co. raised its position in shares of Crown Castle International Corp. by 181.8% in the third quarter. Private Bank & Trust Co. now owns 7,115 shares of the real estate investment trust’s stock worth $670,000 after buying an additional 4,590 shares during the period. AT Bancorp acquired a new position in shares of Crown Castle International Corp. during the third quarter worth about $1,549,000. Nisa Investment Advisors LLC raised its position in shares of Crown Castle International Corp. by 3.7% in the third quarter. Nisa Investment Advisors LLC now owns 84,665 shares of the real estate investment trust’s stock worth $7,976,000 after buying an additional 3,000 shares during the period. Capstone Asset Management Co. raised its position in shares of Crown Castle International Corp. by 5.5% in the third quarter. Capstone Asset Management Co. now owns 35,981 shares of the real estate investment trust’s stock worth $3,390,000 after buying an additional 1,890 shares during the period. Finally, Fox Run Management L.L.C. raised its position in shares of Crown Castle International Corp. by 345.0% in the third quarter. Fox Run Management L.L.C. now owns 8,900 shares of the real estate investment trust’s stock worth $838,000 after buying an additional 6,900 shares during the period. Institutional investors and hedge funds own 89.48% of the company’s stock.

Shares of Crown Castle International Corp. (NYSE:CCI) opened at 84.35 on Tuesday. Crown Castle International Corp. has a 12 month low of $75.71 and a 12 month high of $102.82. The firm has a market capitalization of $28.47 billion, a P/E ratio of 86.78 and a beta of 0.35. The company’s 50 day moving average price is $88.45 and its 200-day moving average price is $93.33.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 4.50%. This is an increase from Crown Castle International Corp.’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Wednesday, December 14th. Crown Castle International Corp.’s payout ratio is presently 361.23%.

A number of brokerages have recently issued reports on CCI. SunTrust Banks Inc. began 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 on the stock. Citigroup Inc. reduced their price objective on Crown Castle International Corp. from $109.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, September 16th. Jefferies Group reissued a “buy” rating on shares of Crown Castle International Corp. in a research note on Monday, August 22nd. Zacks Investment Research downgraded Crown Castle International Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Finally, Oppenheimer Holdings Inc. raised Crown Castle International Corp. from a “market perform” rating to an “outperform” rating and set a $109.00 price objective for the company in a research note on Tuesday, September 6th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Crown Castle International Corp. presently has a consensus rating of “Buy” and a consensus price target of $103.21.

In related news, SVP Kenneth Jay Simon acquired 1,248 shares of Crown Castle International Corp. stock in a transaction dated Monday, November 14th. The shares were acquired at an average cost of $80.19 per share, for a total transaction of $100,077.12. Following the completion of the transaction, the senior vice president now directly owns 5,552 shares of the company’s stock, valued at $445,214.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman W Benjamin Moreland sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $98.23, for a total value of $4,911,500.00. Following the completion of the sale, the insider now owns 533,972 shares in the company, valued at $52,452,069.56. The disclosure for this sale can be found here. Company 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).

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Today, Duff & Phelps Investment Management Co. Increases Stake in Crown Castle International Corp. (CCI)

Today, Duff & Phelps Investment Management Co. Increases Stake in Crown Castle International Corp. (CCI)

Duff & Phelps Investment Management Co. increased its stake in Crown Castle International Corp. (NYSE:CCI) by 6.1% during the third quarter, Holdings Channel reports. The institutional investor owned 985,940 shares of the real estate investment trust’s stock after buying an additional 56,750 shares during the period. Crown Castle International Corp. comprises approximately 1.3% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 18th largest position. Duff & Phelps Investment Management Co.’s holdings in Crown Castle International Corp. were worth $92,886,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CCI. Private Bank & Trust Co. raised its position in shares of Crown Castle International Corp. by 181.8% in the third quarter. Private Bank & Trust Co. now owns 7,115 shares of the real estate investment trust’s stock worth $670,000 after buying an additional 4,590 shares during the period. AT Bancorp acquired a new position in shares of Crown Castle International Corp. during the third quarter worth about $1,549,000. Nisa Investment Advisors LLC raised its position in shares of Crown Castle International Corp. by 3.7% in the third quarter. Nisa Investment Advisors LLC now owns 84,665 shares of the real estate investment trust’s stock worth $7,976,000 after buying an additional 3,000 shares during the period. Capstone Asset Management Co. raised its position in shares of Crown Castle International Corp. by 5.5% in the third quarter. Capstone Asset Management Co. now owns 35,981 shares of the real estate investment trust’s stock worth $3,390,000 after buying an additional 1,890 shares during the period. Finally, Fox Run Management L.L.C. raised its position in shares of Crown Castle International Corp. by 345.0% in the third quarter. Fox Run Management L.L.C. now owns 8,900 shares of the real estate investment trust’s stock worth $838,000 after buying an additional 6,900 shares during the period. Institutional investors and hedge funds own 89.48% of the company’s stock.

Shares of Crown Castle International Corp. (NYSE:CCI) opened at 84.35 on Tuesday. Crown Castle International Corp. has a 12 month low of $75.71 and a 12 month high of $102.82. The firm has a market capitalization of $28.47 billion, a P/E ratio of 86.78 and a beta of 0.35. The company’s 50 day moving average price is $88.45 and its 200-day moving average price is $93.33.

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

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Friday, December 16th will be given a dividend of $0.95 per share. This represents a $3.80 dividend on an annualized basis and a yield of 4.50%. This is an increase from Crown Castle International Corp.’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Wednesday, December 14th. Crown Castle International Corp.’s payout ratio is presently 361.23%.

A number of brokerages have recently issued reports on CCI. SunTrust Banks Inc. began 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 on the stock. Citigroup Inc. reduced their price objective on Crown Castle International Corp. from $109.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, September 16th. Jefferies Group reissued a “buy” rating on shares of Crown Castle International Corp. in a research note on Monday, August 22nd. Zacks Investment Research downgraded Crown Castle International Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Finally, Oppenheimer Holdings Inc. raised Crown Castle International Corp. from a “market perform” rating to an “outperform” rating and set a $109.00 price objective for the company in a research note on Tuesday, September 6th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Crown Castle International Corp. presently has a consensus rating of “Buy” and a consensus price target of $103.21.

In related news, SVP Kenneth Jay Simon acquired 1,248 shares of Crown Castle International Corp. stock in a transaction dated Monday, November 14th. The shares were acquired at an average cost of $80.19 per share, for a total transaction of $100,077.12. Following the completion of the transaction, the senior vice president now directly owns 5,552 shares of the company’s stock, valued at $445,214.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman W Benjamin Moreland sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $98.23, for a total value of $4,911,500.00. Following the completion of the sale, the insider now owns 533,972 shares in the company, valued at $52,452,069.56. The disclosure for this sale can be found here. Company 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).

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