Toronto Dominion Bank raised its position in shares of Crown Castle International Corp. (NYSE:CCI) by 27.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 222,954 shares of the real estate investment trust’s stock after purchasing an additional 47,953 shares during the period. Toronto Dominion Bank’s holdings in Crown Castle International were worth $24,432,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lido Advisors LLC purchased a new position in shares of Crown Castle International in the first quarter worth about $391,000. IFP Advisors Inc increased its holdings in shares of Crown Castle International by 15.7% in the first quarter. IFP Advisors Inc now owns 13,829 shares of the real estate investment trust’s stock worth $1,516,000 after buying an additional 1,873 shares during the period. Candriam Luxembourg S.C.A. increased its holdings in shares of Crown Castle International by 3.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 29,910 shares of the real estate investment trust’s stock worth $3,279,000 after buying an additional 1,113 shares during the period. Cetera Advisors LLC increased its holdings in shares of Crown Castle International by 12.5% in the first quarter. Cetera Advisors LLC now owns 12,873 shares of the real estate investment trust’s stock worth $1,408,000 after buying an additional 1,434 shares during the period. Finally, Glen Harbor Capital Management LLC increased its holdings in shares of Crown Castle International by 39.4% in the first quarter. Glen Harbor Capital Management LLC now owns 10,428 shares of the real estate investment trust’s stock worth $1,143,000 after buying an additional 2,948 shares during the period. Institutional investors and hedge funds own 94.60% of the company’s stock.
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Crown Castle International opened at $102.74 on Friday, according to MarketBeat. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22. The stock has a market capitalization of $42.25 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 1.25 and a beta of 0.29. Crown Castle International Corp. has a 1 year low of $93.14 and a 1 year high of $114.97.
Crown Castle International (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 18th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.98). The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. Crown Castle International had a net margin of 8.87% and a return on equity of 4.06%. The business’s revenue was up 27.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.11 earnings per share. analysts anticipate that Crown Castle International Corp. will post 5.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $4.20 annualized dividend and a yield of 4.09%. Crown Castle International’s payout ratio is 86.60%.
CCI has been the topic of several analyst reports. Goldman Sachs Group downgraded Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 13th. Guggenheim reiterated a “buy” rating and issued a $115.00 price objective on shares of Crown Castle International in a report on Friday, January 26th. Cowen reissued a “buy” rating and issued a $119.00 target price on shares of Crown Castle International in a research note on Friday, April 20th. Zacks Investment Research cut Crown Castle International from a “buy” rating to a “hold” rating in a research note on Wednesday, March 28th. Finally, ValuEngine raised Crown Castle International from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Nine 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’s stock. The company presently has a consensus rating of “Buy” and an average price target of $114.75.
In other news, Director Anthony J. Melone acquired 1,979 shares of the business’s stock in a transaction on Friday, April 27th. The shares were acquired at an average cost of $101.06 per share, with a total value of $199,997.74. Following the transaction, the director now owns 10,547 shares in the company, valued at approximately $1,065,879.82. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.36% of the company’s stock.
About Crown Castle International
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.
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