Crown Castle Inc. (NYSE:CCI) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in CCI. Van ECK Associates Corp boosted its position in shares of Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after buying an additional 31,319 shares in the last quarter. BOKF NA grew its position in shares of Crown Castle by 25.6% in the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after purchasing an additional 815 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 8,346 shares in the last quarter. OLD National Bancorp IN raised its position in shares of Crown Castle by 23.8% during the 2nd quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock worth $8,902,000 after purchasing an additional 17,529 shares during the last quarter. Finally, Kennebec Savings Bank purchased a new stake in Crown Castle in the 3rd quarter valued at approximately $633,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft raised their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. TD Cowen cut their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Bank of America raised their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group boosted their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Down 0.1 %

Shares of NYSE CCI opened at $104.45 on Wednesday. The stock has a market capitalization of $45.39 billion, a PE ratio of 37.04 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a fifty day moving average of $111.48 and a 200-day moving average of $106.72. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue was down .9% on a year-over-year basis. During the same period last year, the firm posted $1.77 EPS. On average, analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

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

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.