Skylands Capital Lowers stake in Crown Castle International Corp (CCI)

Crown Castle International Corp (CCI) : Skylands Capital reduced its stake in Crown Castle International Corp by 5.38% during the most recent quarter end. The investment management company now holds a total of 593,000 shares of Crown Castle International Corp which is valued at $56,969,510 after selling 33,750 shares in Crown Castle International Corp , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Crown Castle International Corp makes up approximately 8.84% of Skylands Capital’s portfolio.

Other Hedge Funds, Including , Huntington National Bank boosted its stake in CCI in the latest quarter, The investment management firm added 115,291 additional shares and now holds a total of 117,291 shares of Crown Castle International Corp which is valued at $11,268,146. Crown Castle International Corp makes up approx 0.27% of Huntington National Bank’s portfolio. Advocacy Wealth Management Services added CCI to its portfolio by purchasing 46 company shares during the most recent quarter which is valued at $4,572.Chevy Chase Trust Holdings boosted its stake in CCI in the latest quarter, The investment management firm added 6,167 additional shares and now holds a total of 288,011 shares of Crown Castle International Corp which is valued at $29,434,724. Crown Castle International Corp makes up approx 0.16% of Chevy Chase Trust Holdings’s portfolio.

Crown Castle International Corp opened for trading at $96.65 and hit $97.5 on the upside on Friday, eventually ending the session at $97.03, with a gain of 0.48% or 0.46 points. The heightened volatility saw the trading volume jump to 19,20,843 shares. Company has a market cap of $32,753 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.

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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