AGF Investments LLC Boosts Stock Holdings in Crown Castle International Corp. (REIT) (NYSE:CCI)

AGF Investments LLC lifted its position in Crown Castle International Corp. (REIT) (NYSE:CCI) by 12.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,044 shares of the real estate investment trust’s stock after buying an additional 552 shares during the period. AGF Investments LLC’s holdings in Crown Castle International were worth $874,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CCI. Marshall Wace LLP purchased a new position in shares of Crown Castle International in the 1st quarter worth approximately $118,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Crown Castle International by 12.8% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 79,808 shares of the real estate investment trust’s stock worth $15,571,000 after buying an additional 9,086 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Crown Castle International by 13.1% in the 2nd quarter. Van ECK Associates Corp now owns 56,752 shares of the real estate investment trust’s stock worth $11,072,000 after buying an additional 6,581 shares during the last quarter. Brighton Jones LLC grew its position in shares of Crown Castle International by 1.9% in the 2nd quarter. Brighton Jones LLC now owns 3,085 shares of the real estate investment trust’s stock worth $602,000 after buying an additional 58 shares during the last quarter. Finally, AGF Investments Inc. grew its position in shares of Crown Castle International by 16.8% in the 2nd quarter. AGF Investments Inc. now owns 82,058 shares of the real estate investment trust’s stock worth $16,010,000 after buying an additional 11,812 shares during the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE CCI opened at $184.15 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.38. Crown Castle International Corp. has a 12 month low of $146.15 and a 12 month high of $209.87. The company has a 50 day simple moving average of $191.28 and a two-hundred day simple moving average of $189.50. The stock has a market cap of $79.59 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 2.66 and a beta of 0.46.

Crown Castle International (NYSE:CCI) last posted its earnings results on Tuesday, October 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.05. Crown Castle International had a net margin of 21.27% and a return on equity of 14.75%. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the previous year, the business posted $1.56 EPS. The business’s revenue was up 8.4% compared to the same quarter last year. Analysts forecast that Crown Castle International Corp. will post 6.58 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 31st. Investors of record on Wednesday, December 15th were paid a $1.47 dividend. This is a boost from Crown Castle International’s previous quarterly dividend of $1.33. This represents a $5.88 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Tuesday, December 14th. Crown Castle International’s payout ratio is currently 194.06%.

In other news, Director Kevin A. Stephens bought 1,110 shares of the firm’s stock in a transaction that occurred on Wednesday, October 27th. The stock was purchased at an average cost of $178.66 per share, for a total transaction of $198,312.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.45% of the company’s stock.

A number of research firms recently commented on CCI. Wolfe Research began coverage on shares of Crown Castle International in a research note on Wednesday, October 13th. They issued an “underperform” rating and a $162.00 target price for the company. JPMorgan Chase & Co. cut shares of Crown Castle International from an “overweight” rating to a “neutral” rating and set a $200.00 target price for the company. in a research note on Wednesday, January 5th. Royal Bank of Canada lowered their target price on shares of Crown Castle International from $210.00 to $202.00 and set an “outperform” rating for the company in a research note on Monday, October 25th. Barclays lifted their target price on shares of Crown Castle International from $215.00 to $221.00 and gave the stock an “overweight” rating in a research note on Friday, October 22nd. Finally, Credit Suisse Group upgraded shares of Crown Castle International from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $192.00 to $195.00 in a research note on Tuesday, October 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $200.00.

About Crown Castle International

Crown Castle International Corp. is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

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

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