Prospera Financial Services Inc Acquires 1,126 Shares of Crown Castle International Corp. (NYSE:CCI)

Prospera Financial Services Inc increased its position in shares of Crown Castle International Corp. (NYSE:CCI – Get Rating) by 10.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,298 shares of the real estate investment trust’s stock after acquiring an additional 1,126 shares during the quarter. Prospera Financial Services Inc’s holdings in Crown Castle International were worth $2,271,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. raised its position in shares of Crown Castle International by 15.3% during the fourth quarter. BlackRock Inc. now owns 37,010,877 shares of the real estate investment trust’s stock worth $7,725,650,000 after purchasing an additional 4,919,828 shares during the period. State Street Corp grew its stake in Crown Castle International by 4.8% in the fourth quarter. State Street Corp now owns 19,664,166 shares of the real estate investment trust’s stock valued at $4,104,698,000 after purchasing an additional 896,553 shares in the last quarter. Capital International Investors grew its stake in Crown Castle International by 0.9% in the fourth quarter. Capital International Investors now owns 17,709,352 shares of the real estate investment trust’s stock valued at $3,696,349,000 after purchasing an additional 154,919 shares in the last quarter. Geode Capital Management LLC grew its stake in Crown Castle International by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 8,441,732 shares of the real estate investment trust’s stock valued at $1,758,348,000 after purchasing an additional 337,741 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Crown Castle International by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,940,469 shares of the real estate investment trust’s stock worth $822,535,000 after acquiring an additional 101,552 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other news, EVP Michael Joseph Kavanagh sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, April 29th. The stock was sold at an average price of $191.02, for a total value of $955,100.00. Following the completion of the transaction, the executive vice president now directly owns 73,670 shares of the company’s stock, valued at $14,072,443.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Kevin A. Stephens acquired 699 shares of Crown Castle International stock in a transaction on Friday, July 22nd. The stock was acquired at an average cost of $173.60 per share, with a total value of $121,346.40. Following the completion of the acquisition, the director now owns 10,703 shares in the company, valued at $1,858,040.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Joseph Kavanagh sold 5,000 shares of the stock in a transaction on Friday, April 29th. The shares were sold at an average price of $191.02, for a total value of $955,100.00. Following the transaction, the executive vice president now directly owns 73,670 shares of the company’s stock, valued at $14,072,443.40. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CCI has been the subject of several research analyst reports. Cowen reduced their target price on Crown Castle International to $195.00 in a research note on Friday, July 22nd. Jefferies Financial Group upgraded Crown Castle International from a “hold” rating to a “buy” rating and lifted their price target for the company from $191.00 to $200.00 in a research note on Thursday, June 30th. Raymond James decreased their price target on Crown Castle International from $206.00 to $201.00 in a research note on Friday, July 22nd. StockNews.com lowered Crown Castle International from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, The Goldman Sachs Group reduced their price objective on Crown Castle International from $189.00 to $166.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $196.06.

Crown Castle International Stock Performance

Shares of Crown Castle International stock opened at $173.54 on Thursday. The company has a market cap of $75.15 billion, a PE ratio of 48.75 and a beta of 0.57. Crown Castle International Corp. has a 52 week low of $153.70 and a 52 week high of $209.87. The business has a 50 day moving average price of $174.65 and a 200-day moving average price of $178.22. The company has a quick ratio of 0.71, a current ratio of 0.69 and a debt-to-equity ratio of 2.70.

Crown Castle International (NYSE:CCI – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.74). The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Crown Castle International had a return on equity of 18.93% and a net margin of 22.91%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $1.71 earnings per share. Equities analysts anticipate that Crown Castle International Corp. will post 7.02 earnings per share for the current fiscal year.

Crown Castle International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $1.47 dividend. This represents a $5.88 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Wednesday, September 14th. Crown Castle International’s dividend payout ratio is presently 165.17%.

Crown Castle International Company Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.