Jackson Square Partners Lowers stake in Crown Castle International Corp (CCI)

Crown Castle International Corp (CCI) : Jackson Square Partners reduced its stake in Crown Castle International Corp by 3.01% during the most recent quarter end. The investment management company now holds a total of 9,209,932 shares of Crown Castle International Corp which is valued at $827.5 Million after selling 285,740 shares in Crown Castle International Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Crown Castle International Corp makes up approximately 3.73% of Jackson Square Partners’s portfolio.

Other Hedge Funds, Including , Marsico Capital Management boosted its stake in CCI in the latest quarter, The investment management firm added 46,397 additional shares and now holds a total of 257,598 shares of Crown Castle International Corp which is valued at $23.1 Million. Crown Castle International Corp makes up approx 0.69% of Marsico Capital Management’s portfolio.Sentry Investment Management reduced its stake in CCI by selling 746 shares or 2.99% in the most recent quarter. The Hedge Fund company now holds 24,230 shares of CCI which is valued at $2.2 Million. Crown Castle International Corp makes up approx 0.10% of Sentry Investment Management’s portfolio.Proshare Advisors reduced its stake in CCI by selling 45,801 shares or 26.1% in the most recent quarter. The Hedge Fund company now holds 129,664 shares of CCI which is valued at $11.5 Million. Crown Castle International Corp makes up approx 0.16% of Proshare Advisors’s portfolio.British Airways Pensions Investment Management Ltd boosted its stake in CCI in the latest quarter, The investment management firm added 161,732 additional shares and now holds a total of 401,522 shares of Crown Castle International Corp which is valued at $35.5 Million. Crown Castle International Corp makes up approx 1.10% of British Airways Pensions Investment Management Ltd’s portfolio.

Crown Castle International Corp closed down -0.21 points or -0.23% at $91.08 with 15,61,587 shares getting traded on Wednesday. Post opening the session at $91.49, the shares hit an intraday low of $90.87 and an intraday high of $91.97 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Crown Castle International Corp reported $1.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $1.04. The company had revenue of $934.40 million for the quarter, compared to analysts expectations of $934.83 million. The company’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 EPS.

Investors should note that on May 20, 2016, Crown Castle International Corp announced a cash dividend of $0.8850. The company’s management has announced Jun 15, 2016 as the ex-dividend date and fixed the record date on Jun 17, 2016. The payable date has been fixed on Jun 30, 2016.

Many Wall Street Analysts have commented on Crown Castle International Corp. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 99 from a previous price target of $98 .Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 102 from a previous price target of $100 .Company shares were Reiterated by Stifel on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 97 from a previous price target of $95 .

Crown 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). Its core business is renting space or physical capacity (collectively space) on its towers DAS and to a lesser extent third party land interests (collectively site rental business) through long-term contracts in various forms including license sublease and lease agreements (collectively contracts). The Company conducts its operations principally through subsidiaries of (CCOC) including certain subsidiaries which operate its wireless infrastructure portfolios in the United States including Puerto Rico (CCUSA).

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