Crown Castle International Target of Unusually High Options Trading (NYSE:CCI)

Thursday, June 10, 2021 | MarketBeat

Crown Castle International Corp. (REIT) (NYSE:CCI) saw some unusual options trading on Thursday. Investors acquired 15,812 call options on the company. This represents an increase of 624% compared to the typical volume of 2,184 call options.

Shares of NYSE:CCI traded up $1.71 during trading on Thursday, hitting $198.80. 48,212 shares of the company's stock traded hands, compared to its average volume of 2,036,608. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 2.21. The firm has a 50-day simple moving average of $184.27. Crown Castle International has a 52 week low of $146.15 and a 52 week high of $199.00. The firm has a market cap of $85.92 billion, a P/E ratio of 88.46, a price-to-earnings-growth ratio of 1.45 and a beta of 0.35.

Crown Castle International (NYSE:CCI) last announced its earnings results on Tuesday, April 20th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.25). The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.50 billion. Crown Castle International had a return on equity of 10.52% and a net margin of 16.80%. The business's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. Equities analysts forecast that Crown Castle International will post 6.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Monday, June 14th will be given a $1.33 dividend. The ex-dividend date of this dividend is Friday, June 11th. This represents a $5.32 annualized dividend and a yield of 2.68%. Crown Castle International's dividend payout ratio is currently 78.47%.

Several brokerages have weighed in on CCI. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle International from $180.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, April 23rd. Morgan Stanley raised shares of Crown Castle International from an "in-line" rating to an "overweight" rating and boosted their price target for the stock from $200.00 to $204.00 in a research note on Wednesday, June 2nd. JPMorgan Chase & Co. raised their price objective on shares of Crown Castle International from $189.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, April 29th. KeyCorp upped their target price on shares of Crown Castle International from $193.00 to $207.00 and gave the company an "overweight" rating in a research report on Friday, April 23rd. Finally, Jefferies Financial Group started coverage on Crown Castle International in a research report on Monday, April 12th. They issued a "buy" rating and a $205.00 price target on the stock. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. The company presently has an average rating of "Buy" and an average price target of $187.86.

In related news, VP Robert Sean Collins sold 700 shares of the firm's stock in a transaction that occurred on Thursday, May 27th. The shares were sold at an average price of $188.67, for a total value of $132,069.00. Following the completion of the sale, the vice president now owns 6,299 shares of the company's stock, valued at $1,188,432.33. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director J Landis Martin acquired 1,180 shares of the company's stock in a transaction that occurred on Monday, March 15th. The stock was bought at an average price of $160.99 per share, with a total value of $189,968.20. Following the transaction, the director now directly owns 145,620 shares in the company, valued at $23,443,363.80. The disclosure for this purchase can be found here. Company insiders own 0.45% of the company's stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in CCI. Norges Bank bought a new stake in shares of Crown Castle International in the fourth quarter valued at about $669,019,000. Capital International Investors raised its position in Crown Castle International by 27.2% in the 1st quarter. Capital International Investors now owns 17,703,600 shares of the real estate investment trust's stock valued at $3,046,915,000 after buying an additional 3,787,088 shares during the last quarter. Brookfield Asset Management Inc. lifted its stake in Crown Castle International by 485.8% in the 1st quarter. Brookfield Asset Management Inc. now owns 1,241,686 shares of the real estate investment trust's stock valued at $213,731,000 after acquiring an additional 1,029,729 shares in the last quarter. Morgan Stanley boosted its position in Crown Castle International by 13.7% during the 4th quarter. Morgan Stanley now owns 8,208,821 shares of the real estate investment trust's stock worth $1,306,761,000 after acquiring an additional 987,581 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its stake in shares of Crown Castle International by 5.8% during the 4th quarter. Magellan Asset Management Ltd now owns 14,444,891 shares of the real estate investment trust's stock worth $2,299,482,000 after acquiring an additional 792,000 shares in the last quarter. 90.36% of the stock is owned by hedge funds and other institutional investors.

About Crown Castle International

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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