Soros Capital Management LLC Has $2.94 Million Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Soros Capital Management LLC decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 12.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,801 shares of the real estate investment trust’s stock after selling 3,424 shares during the quarter. Soros Capital Management LLC’s holdings in Crown Castle were worth $2,942,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Quent Capital LLC grew its holdings in shares of Crown Castle by 10.9% in the 1st quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 231 shares during the last quarter. EntryPoint Capital LLC bought a new stake in Crown Castle during the 1st quarter worth about $27,000. BOKF NA grew its holdings in Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after acquiring an additional 815 shares during the last quarter. SVB Wealth LLC grew its holdings in Crown Castle by 11.2% during the 1st quarter. SVB Wealth LLC now owns 4,365 shares of the real estate investment trust’s stock worth $462,000 after acquiring an additional 441 shares during the last quarter. Finally, Ancora Advisors LLC grew its holdings in Crown Castle by 9.0% during the 1st quarter. Ancora Advisors LLC now owns 11,885 shares of the real estate investment trust’s stock worth $1,258,000 after acquiring an additional 980 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research analyst reports. Bank of America increased their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. UBS Group increased their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Jefferies Financial Group increased their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Performance

Shares of CCI stock opened at $106.30 on Wednesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $46.20 billion, a P/E ratio of 37.69 and a beta of 0.86. The company’s 50 day moving average price is $110.06 and its two-hundred day moving average price is $106.98. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $1.77 earnings per share. On average, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. Crown Castle’s dividend payout ratio is currently 221.99%.

About Crown Castle

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.