Victory Capital Management Inc. Has $33.69 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Victory Capital Management Inc. lessened its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 283,985 shares of the real estate investment trust's stock after selling 7,455 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Crown Castle worth $33,689,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Daiwa Securities Group Inc. boosted its stake in shares of Crown Castle by 4,097.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust's stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the last quarter. Bank of Montreal Can raised its holdings in Crown Castle by 191.7% in the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust's stock valued at $195,183,000 after acquiring an additional 1,335,644 shares during the last quarter. Cooke & Bieler LP increased its holdings in Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust's stock valued at $251,962,000 after purchasing an additional 1,261,536 shares in the last quarter. Capital International Investors lifted its stake in shares of Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust's stock worth $131,239,000 after acquiring an additional 1,238,274 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Crown Castle by 13,271.6% in the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust's stock worth $115,449,000 after acquiring an additional 965,907 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Up 0.9 %

CCI traded up $0.88 during trading on Friday, hitting $103.80. The company had a trading volume of 2,293,374 shares, compared to its average volume of 2,270,398. The firm's 50-day moving average price is $112.05 and its 200 day moving average price is $106.53. The company has a market capitalization of $45.11 billion, a PE ratio of 36.81 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $1.73 by ($1.03). The firm 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 business's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.77 earnings per share. As a group, equities analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle's payout ratio is 221.99%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CCI shares. Barclays increased their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. The Goldman Sachs Group boosted their price target on Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. TD Cowen cut their price objective on shares of Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price target on shares of Crown Castle from $100.00 to $105.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $116.87.

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.