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

QRG Capital Management Inc. boosted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 29.6% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 34,272 shares of the real estate investment trust's stock after buying an additional 7,819 shares during the period. QRG Capital Management Inc.'s holdings in Crown Castle were worth $4,066,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CCI. Daiwa Securities Group Inc. increased its stake in Crown Castle by 4,097.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust's stock worth $246,617,000 after buying an additional 2,464,094 shares in the last quarter. M&G Plc purchased a new position in shares of Crown Castle during the first quarter valued at about $221,573,000. Bank of Montreal Can grew its position in shares of Crown Castle by 191.7% during the second 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 purchasing an additional 1,335,644 shares in the last quarter. Cooke & Bieler LP grew its position in shares of Crown Castle by 95.8% during the second 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. Finally, Capital International Investors grew its position in shares of Crown Castle by 68,262.1% during the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust's stock valued at $131,239,000 after purchasing an additional 1,238,274 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.7 %

NYSE CCI traded up $0.74 during trading on Thursday, hitting $104.21. The stock had a trading volume of 2,633,116 shares, compared to its average volume of 2,620,065. 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 stock has a market capitalization of $45.29 billion, a price-to-earnings ratio of 36.95 and a beta of 0.86. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The stock has a 50 day simple moving average of $113.39 and a 200 day simple moving average of $106.09.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 20.98% and a net margin of 18.59%. The firm's revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.77 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CCI. Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $103.00 to $105.00 and gave the company a "hold" rating in a research report on Tuesday, July 23rd. Wells Fargo & Company raised their price objective on Crown Castle from $100.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. UBS Group lifted their price target on Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target 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. Finally, JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $116.87.

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.