Dorsal Capital Management Exits Position in Crown Castle International Corp (CCI)

Crown Castle International Corp (CCI) : Dorsal Capital Management has sold out all of its stake in Crown Castle International Corp during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 500,000 shares of Crown Castle International Corp which is valued at $48,260,000.

Other Hedge Funds, Including , Trustmark National Bank Trust Department boosted its stake in CCI in the latest quarter, The investment management firm added 2,313 additional shares and now holds a total of 12,313 shares of Crown Castle International Corp which is valued at $1,188,451. Crown Castle International Corp makes up approx 0.15% of Trustmark National Bank Trust Department’s portfolio.Cbre Clarion Securities boosted its stake in CCI in the latest quarter, The investment management firm added 174,600 additional shares and now holds a total of 209,335 shares of Crown Castle International Corp which is valued at $20,205,014. Crown Castle International Corp makes up approx 0.16% of Cbre Clarion Securities’s portfolio.Vanguard Group Inc boosted its stake in CCI in the latest quarter, The investment management firm added 793,689 additional shares and now holds a total of 20,682,824 shares of Crown Castle International Corp which is valued at $1,996,306,172. Crown Castle International Corp makes up approx 0.12% of Vanguard Group Inc’s portfolio. Bradley Foster Sargent Incct added CCI to its portfolio by purchasing 166,797 company shares during the most recent quarter which is valued at $15,995,832. Crown Castle International Corp makes up approx 0.70% of Bradley Foster Sargent Incct’s portfolio. Spot Trading L.l.c added CCI to its portfolio by purchasing 87,199 company shares during the most recent quarter which is valued at $8,380,696. Crown Castle International Corp makes up approx 1.11% of Spot Trading L.l.c’s portfolio.

Crown Castle International Corp opened for trading at $97.75 and hit $99 on the upside on Wednesday, eventually ending the session at $98.85, with a gain of 0.84% or 0.82 points. The heightened volatility saw the trading volume jump to 6,552,085 shares. Company has a market cap of $33,368 M.

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).

Leave a Reply

Crown Castle International Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Crown Castle International Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.