QRG Capital Management Inc. Acquires 7,819 Shares of Crown Castle Inc. (NYSE:CCI)

QRG Capital Management Inc. increased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 29.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,272 shares of the real estate investment trust’s stock after purchasing an additional 7,819 shares during the period. QRG Capital Management Inc.’s holdings in Crown Castle were worth $4,066,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. EntryPoint Capital LLC bought a new position in Crown Castle in the first quarter valued at approximately $27,000. Rosenberg Matthew Hamilton raised its holdings in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares during the period. Asset Dedication LLC lifted its position in Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares in the last quarter. Beacon Capital Management LLC lifted its position in Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares in the last quarter. Finally, New Millennium Group LLC acquired a new position in Crown Castle in the 2nd quarter worth $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft boosted their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group boosted their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Bank of America raised their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Price Performance

NYSE:CCI opened at $103.46 on Thursday. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92. The firm has a market capitalization of $44.96 billion, a price-to-earnings ratio of 36.69 and a beta of 0.86. The stock’s 50 day moving average price is $113.39 and its two-hundred day moving average price is $106.09. 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 (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $1.77 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current year.

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.