Soros Capital Management LLC Sells 3,424 Shares of Crown Castle Inc. (NYSE:CCI)

Soros Capital Management LLC cut its position in Crown Castle Inc. (NYSE:CCI) by 12.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,801 shares of the real estate investment trust’s stock after selling 3,424 shares during the period. Soros Capital Management LLC’s holdings in Crown Castle were worth $2,942,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Townsquare Capital LLC grew its stake in shares of Crown Castle by 25.9% in the third quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust’s stock valued at $694,000 after buying an additional 1,203 shares in the last quarter. Avestar Capital LLC grew its stake in shares of Crown Castle by 14.9% in the third quarter. Avestar Capital LLC now owns 2,786 shares of the real estate investment trust’s stock valued at $331,000 after buying an additional 361 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of Crown Castle by 95.5% in the third quarter. Brooklyn Investment Group now owns 3,880 shares of the real estate investment trust’s stock valued at $460,000 after buying an additional 1,895 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Crown Castle by 4.9% in the third quarter. D.A. Davidson & CO. now owns 20,478 shares of the real estate investment trust’s stock valued at $2,429,000 after buying an additional 960 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd boosted its position in Crown Castle by 37.6% during the third quarter. Dai ichi Life Insurance Company Ltd now owns 25,619 shares of the real estate investment trust’s stock worth $3,039,000 after purchasing an additional 7,000 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research analyst reports. TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Bank of America lifted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Royal Bank of Canada upped their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Stock Up 0.2 %

CCI stock opened at $106.30 on Wednesday. The stock has a market capitalization of $46.20 billion, a P/E ratio of 37.69 and a beta of 0.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The firm has a 50-day moving average price of $110.06 and a 200-day moving average price of $106.98.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business earned $1.77 EPS. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.