QRG Capital Management Inc. Has $4.92 Million Holdings in Crown Castle Inc. $CCI

QRG Capital Management Inc. grew its position in Crown Castle Inc. (NYSE:CCI) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,932 shares of the real estate investment trust’s stock after purchasing an additional 4,152 shares during the period. QRG Capital Management Inc.’s holdings in Crown Castle were worth $4,924,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CHICAGO TRUST Co NA lifted its holdings in shares of Crown Castle by 3.0% in the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 104 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Crown Castle by 18.9% in the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 107 shares in the last quarter. Abel Hall LLC lifted its holdings in shares of Crown Castle by 1.8% in the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 115 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Crown Castle by 36.6% in the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Crown Castle by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust’s stock valued at $3,894,000 after purchasing an additional 120 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.1%

Shares of NYSE CCI opened at $95.57 on Monday. The business’s 50 day moving average price is $99.36 and its two-hundred day moving average price is $101.09. The company has a market cap of $41.62 billion, a PE ratio of -8.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $115.89.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.62 earnings per share. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, September 15th. Crown Castle’s payout ratio is -39.83%.

Analyst Ratings Changes

CCI has been the topic of a number of research reports. KeyCorp cut their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Wells Fargo & Company raised Crown Castle from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a research report on Saturday, September 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $125.00 target price on shares of Crown Castle in a research report on Thursday, July 24th. Finally, Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $115.76.

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.