Verition Fund Management LLC Has $328,000 Position in Crown Castle Inc. (NYSE:CCI)

Verition Fund Management LLC trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 75.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,763 shares of the real estate investment trust's stock after selling 8,605 shares during the period. Verition Fund Management LLC's holdings in Crown Castle were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CCI. ORG Partners LLC acquired a new stake in shares of Crown Castle in the 2nd quarter valued at $34,000. Assenagon Asset Management S.A. raised its holdings in Crown Castle by 1.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 17,996 shares of the real estate investment trust's stock worth $1,758,000 after purchasing an additional 254 shares during the last quarter. Blue Trust Inc. lifted its position in Crown Castle by 49.2% during the 2nd quarter. Blue Trust Inc. now owns 1,180 shares of the real estate investment trust's stock valued at $125,000 after purchasing an additional 389 shares during the period. Brookstone Capital Management boosted its stake in shares of Crown Castle by 10.8% in the 2nd quarter. Brookstone Capital Management now owns 93,495 shares of the real estate investment trust's stock valued at $9,876,000 after purchasing an additional 9,086 shares during the last quarter. Finally, TCW Group Inc. grew its position in shares of Crown Castle by 17.1% during the 2nd quarter. TCW Group Inc. now owns 60,999 shares of the real estate investment trust's stock worth $5,960,000 after buying an additional 8,903 shares during the period. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the topic of several analyst reports. Jefferies Financial Group increased their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, October 17th. The Goldman Sachs Group raised their price target on Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Crown Castle has a consensus rating of "Hold" and an average price target of $116.53.

Crown Castle Stock Down 0.1 %

Shares of CCI stock traded down $0.09 during trading hours on Friday, hitting $97.11. 3,698,427 shares of the company were exchanged, compared to its average volume of 2,674,139. The company has a market capitalization of $42.20 billion, a PE ratio of 34.44 and a beta of 0.86. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The business has a 50 day moving average of $106.57 and a two-hundred day moving average of $107.14. 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 (NYSE:CCI - Get Free Report) last released its earnings results 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 firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company posted $1.77 EPS. Analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.45%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle's payout ratio is 221.99%.

Crown Castle 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.