QRG Capital Management Inc. Has $3.71 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

QRG Capital Management Inc. boosted its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,837 shares of the real estate investment trust's stock after purchasing an additional 6,565 shares during the period. QRG Capital Management Inc.'s holdings in Crown Castle were worth $3,706,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its stake in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust's stock valued at $470,838,000 after acquiring an additional 3,225,460 shares during the period. State Street Corp lifted its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Crown Castle by 9,471.0% during the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust's stock worth $748,000 after acquiring an additional 739,779 shares during the period. Finally, Daiwa Securities Group Inc. grew its position in shares of Crown Castle by 25.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust's stock valued at $375,610,000 after purchasing an additional 642,010 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on CCI. Jefferies Financial Group cut Crown Castle from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Wells Fargo & Company decreased their target price on shares of Crown Castle from $100.00 to $85.00 and set an "underweight" rating on the stock in a research report on Thursday, January 23rd. Citigroup cut their price target on Crown Castle from $128.00 to $106.00 and set a "buy" rating for the company in a research note on Thursday, February 13th. Moffett Nathanson reduced their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Finally, JMP Securities assumed coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an "outperform" rating and a $115.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $108.75.

Crown Castle Trading Up 1.4 %

Shares of CCI stock traded up $1.31 on Monday, hitting $95.41. The company had a trading volume of 876,690 shares, compared to its average volume of 2,526,815. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The stock's 50-day moving average is $89.75 and its two-hundred day moving average is $102.32. The firm has a market cap of $41.46 billion, a P/E ratio of 33.89 and a beta of 0.88.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.56%. Crown Castle's payout ratio is 221.99%.

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.