Mutual of America Capital Management LLC Reduces Holdings in Crown Castle Inc. (NYSE:CCI)

Mutual of America Capital Management LLC lowered its position in Crown Castle Inc. (NYSE:CCI) by 2.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 53,512 shares of the real estate investment trust’s stock after selling 1,288 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Crown Castle were worth $6,348,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its position in shares of Crown Castle by 4,097.8% during the second 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. Bank of Montreal Can grew its holdings in Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after acquiring an additional 1,335,644 shares in the last quarter. Cooke & Bieler LP increased its position in shares of Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after purchasing an additional 1,261,536 shares during the last quarter. Capital International Investors raised its stake in shares of Crown Castle by 68,262.1% in the 1st 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. Finally, International Assets Investment Management LLC lifted its position in shares of Crown Castle by 13,271.6% during the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after purchasing an additional 965,907 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CCI shares. UBS Group upped their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays upped their price target on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Bank of America lifted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. TD Cowen dropped their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Jefferies Financial Group lifted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $116.87.

Crown Castle Trading Down 0.1 %

Shares of CCI stock opened at $104.45 on Wednesday. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The firm has a market capitalization of $45.39 billion, a PE ratio of 37.04 and a beta of 0.86. The stock has a fifty day moving average of $111.48 and a two-hundred day moving average of $106.72. 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 (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.77 EPS. As a group, research analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.99%. Crown Castle’s dividend payout ratio is presently 221.99%.

About Crown Castle

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.