Terra Nova Asset Management Lowers stake in Crown Castle International Corp (CCI)

Crown Castle International Corp (CCI) : Terra Nova Asset Management reduced its stake in Crown Castle International Corp by 0.75% during the most recent quarter end. The investment management company now holds a total of 9,925 shares of Crown Castle International Corp which is valued at $883,325 after selling 75 shares in Crown Castle International Corp , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Crown Castle International Corp makes up approximately 1.96% of Terra Nova Asset Management’s portfolio.

Other Hedge Funds, Including , British Columbia Investment Management Corp reduced its stake in CCI by selling 23,974 shares or 13.37% in the most recent quarter. The Hedge Fund company now holds 155,318 shares of CCI which is valued at $13,823,302. Crown Castle International Corp makes up approx 0.14% of British Columbia Investment Management Corp’s portfolio.Raymond James Trust N.a. boosted its stake in CCI in the latest quarter, The investment management firm added 2,123 additional shares and now holds a total of 11,330 shares of Crown Castle International Corp which is valued at $1,004,971. Crown Castle International Corp makes up approx 0.09% of Raymond James Trust N.a.’s portfolio.Gradient Investments boosted its stake in CCI in the latest quarter, The investment management firm added 2,905 additional shares and now holds a total of 50,002 shares of Crown Castle International Corp which is valued at $4,435,177. Crown Castle International Corp makes up approx 0.44% of Gradient Investments’s portfolio.Cutler Group Lp reduced its stake in CCI by selling 3,175 shares or 6.79% in the most recent quarter. The Hedge Fund company now holds 43,577 shares of CCI which is valued at $3,865,280. Crown Castle International Corp makes up approx 0.24% of Cutler Group Lp’s portfolio. Simplex Trading sold out all of its stake in CCI during the most recent quarter. The investment firm sold 9,521 shares of CCI which is valued $840,704.

Crown Castle International Corp opened for trading at $88.61 and hit $89.38 on the upside on Tuesday, eventually ending the session at $89, with a gain of 0.34% or 0.3 points. The heightened volatility saw the trading volume jump to 23,21,178 shares. Company has a market cap of $30,043 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. SunTrust Initiated Crown Castle International Corp on Sep 13, 2016 to “Buy”, Price Target of the shares are set at $107.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 .

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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