Michael Joseph Kavanagh Sells 5,000 Shares of Crown Castle International Corp. (NYSE:CCI) Stock

Crown Castle International Corp. (NYSE:CCIGet Rating) EVP Michael Joseph Kavanagh sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 29th. The shares were sold at an average price of $191.02, for a total transaction of $955,100.00. Following the transaction, the executive vice president now directly owns 73,670 shares in the company, valued at approximately $14,072,443.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Crown Castle International stock opened at $180.82 on Tuesday. The firm’s 50 day simple moving average is $182.37 and its 200-day simple moving average is $183.87. The company has a market cap of $78.30 billion, a P/E ratio of 53.82 and a beta of 0.56. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.71 and a quick ratio of 0.62. Crown Castle International Corp. has a fifty-two week low of $157.16 and a fifty-two week high of $209.87.

Crown Castle International (NYSE:CCIGet Rating) last released its earnings results on Wednesday, April 20th. The real estate investment trust reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.03. The business had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.70 billion. Crown Castle International had a net margin of 22.12% and a return on equity of 17.40%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the firm posted $1.71 earnings per share. On average, analysts expect that Crown Castle International Corp. will post 7.06 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were given a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Monday, March 14th. Crown Castle International’s payout ratio is presently 175.00%.

A number of analysts have commented on CCI shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle International from $209.00 to $204.00 and set a “buy” rating on the stock in a research report on Thursday, February 3rd. Morgan Stanley boosted their price target on shares of Crown Castle International from $207.00 to $215.00 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. KeyCorp boosted their price target on shares of Crown Castle International from $202.00 to $219.00 and gave the stock an “overweight” rating in a research report on Friday, April 22nd. JPMorgan Chase & Co. downgraded shares of Crown Castle International from an “overweight” rating to a “neutral” rating and set a $200.00 price target on the stock. in a research report on Wednesday, January 5th. Finally, Credit Suisse Group boosted their target price on shares of Crown Castle International from $204.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $205.62.

A number of institutional investors and hedge funds have recently made changes to their positions in CCI. Marshall Wace LLP purchased a new position in Crown Castle International during the first quarter valued at approximately $118,000. Morgan Stanley grew its position in Crown Castle International by 9.9% during the second quarter. Morgan Stanley now owns 9,536,422 shares of the real estate investment trust’s stock valued at $1,860,558,000 after purchasing an additional 856,986 shares in the last quarter. Advisor Group Holdings Inc. grew its position in Crown Castle International by 5.1% during the third quarter. Advisor Group Holdings Inc. now owns 166,271 shares of the real estate investment trust’s stock valued at $28,846,000 after purchasing an additional 8,109 shares in the last quarter. Regal Investment Advisors LLC grew its position in Crown Castle International by 4.2% during the third quarter. Regal Investment Advisors LLC now owns 2,362 shares of the real estate investment trust’s stock valued at $409,000 after purchasing an additional 95 shares in the last quarter. Finally, Truist Financial Corp grew its position in Crown Castle International by 0.7% in the third quarter. Truist Financial Corp now owns 1,481,952 shares of the real estate investment trust’s stock worth $256,852,000 after acquiring an additional 9,789 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle International Company Profile (Get Rating)

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.

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