IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 1,332 Shares of Crown Castle Inc. (NYSE:CCI)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CCI. Vanguard Group Inc. increased its position in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after buying an additional 5,934,615 shares during the period. State Street Corp raised its stake in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP boosted its holdings 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 period. Geode Capital Management LLC grew its position in shares of Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after purchasing an additional 151,990 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Crown Castle by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock worth $473,625,000 after purchasing an additional 130,414 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of CCI opened at $102.61 on Friday. The business has a 50-day simple moving average of $93.95 and a two-hundred day simple moving average of $100.88. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The stock has a market cap of $44.68 billion, a PE ratio of 36.38 and a beta of 0.89. 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.10%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CCI shares. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Barclays boosted their price target on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. dropped their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.00.

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.