Crown Castle Inc. (NYSE:CCI) Shares Sold by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd trimmed its position in Crown Castle Inc. (NYSE:CCI) by 12.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,740 shares of the real estate investment trust’s stock after selling 1,332 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Crown Castle were worth $884,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC bought a new position in Crown Castle in the third quarter worth about $518,000. Great Valley Advisor Group Inc. bought a new stake in shares of Crown Castle in the 3rd quarter worth approximately $363,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Crown Castle in the 3rd quarter worth approximately $167,000. Brown Brothers Harriman & Co. boosted its position in Crown Castle by 8.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,651 shares of the real estate investment trust’s stock valued at $433,000 after purchasing an additional 288 shares during the period. Finally, D.A. Davidson & CO. grew its stake in Crown Castle by 4.9% during the 3rd quarter. D.A. Davidson & CO. now owns 20,478 shares of the real estate investment trust’s stock worth $2,429,000 after buying an additional 960 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CCI shares. Bank of America started coverage on shares of Crown Castle in a research note on Thursday, March 20th. They set a “neutral” rating and a $110.00 target price for the company. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a research report on Tuesday. Finally, Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Price Performance

NYSE:CCI opened at $102.61 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market capitalization of $44.68 billion, a price-to-earnings ratio of 36.38 and a beta of 0.89. The stock’s 50 day moving average price is $93.95 and its two-hundred day moving average price is $100.88. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.10%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is -69.71%.

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.