Forward Management Lowers stake in Crown Castle International Corp (CCI)

Crown Castle International Corp (CCI) : Forward Management reduced its stake in Crown Castle International Corp by 2.82% during the most recent quarter end. The investment management company now holds a total of 17,200 shares of Crown Castle International Corp which is valued at $1,653,092 after selling 500 shares in Crown Castle International Corp , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Crown Castle International Corp makes up approximately 0.13% of Forward Management’s portfolio.

Other Hedge Funds, Including , Cookson Peirce Co Inc boosted its stake in CCI in the latest quarter, The investment management firm added 3,760 additional shares and now holds a total of 18,490 shares of Crown Castle International Corp which is valued at $1,777,074. Crown Castle International Corp makes up approx 0.26% of Cookson Peirce Co Inc’s portfolio. Spinnaker Trust added CCI to its portfolio by purchasing 8,706 company shares during the most recent quarter which is valued at $836,734. Crown Castle International Corp makes up approx 0.11% of Spinnaker Trust’s portfolio. Capital Fund Management S.a. added CCI to its portfolio by purchasing 9,468 company shares during the most recent quarter which is valued at $909,591. Crown Castle International Corp makes up approx 0.02% of Capital Fund Management S.a.’s portfolio.Oakbrook Investments boosted its stake in CCI in the latest quarter, The investment management firm added 1,850 additional shares and now holds a total of 19,750 shares of Crown Castle International Corp which is valued at $1,952,683. Crown Castle International Corp makes up approx 0.10% of Oakbrook Investments’s portfolio.Nn Investment Partners Holdings N.v. boosted its stake in CCI in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 2,102 shares of Crown Castle International Corp which is valued at $209,780.

Crown Castle International Corp closed down -0.32 points or -0.33% at $95.9 with 9,12,343 shares getting traded on Monday. Post opening the session at $96.23, the shares hit an intraday low of $95.75 and an intraday high of $96.6 and the price fluctuated in this range throughout the day.Shares ended Monday 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 Aug 2, 2016, Crown Castle International Corp announced a cash dividend of $0.8850. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

Many Wall Street Analysts have commented on Crown Castle International Corp. Company shares were Reiterated by Stifel on Jul 22, 2016 to “Buy”, Firm has raised the Price Target to $ 110 from a previous price target of $103 .Company shares were Downgraded by Citigroup on Jul 11, 2016 to ” Neutral”, Firm has raised the Price Target to $ 109 from a previous price target of $94 .

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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