Mutual of America Capital Management LLC Has $5.35 Million Position in Crown Castle Inc. (NYSE:CCI)

Mutual of America Capital Management LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 3.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,800 shares of the real estate investment trust’s stock after selling 2,064 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Crown Castle were worth $5,354,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Edgestream Partners L.P. bought a new position in Crown Castle during the second quarter worth about $5,762,000. One Capital Management LLC bought a new position in shares of Crown Castle during the second quarter worth approximately $233,000. Quantbot Technologies LP raised its position in shares of Crown Castle by 22.6% in the second quarter. Quantbot Technologies LP now owns 27,863 shares of the real estate investment trust’s stock valued at $2,722,000 after buying an additional 5,135 shares in the last quarter. Bcwm LLC boosted its stake in shares of Crown Castle by 5.0% in the second quarter. Bcwm LLC now owns 46,712 shares of the real estate investment trust’s stock valued at $4,564,000 after buying an additional 2,220 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Crown Castle during the second quarter worth approximately $4,147,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $115.30 on Friday. The stock’s 50-day moving average is $111.58 and its 200-day moving average is $104.11. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock has a market cap of $50.11 billion, a P/E ratio of 36.03 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company’s revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 EPS. Equities research analysts anticipate that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $1.565 dividend. The ex-dividend date is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.43%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Raymond James reaffirmed an “outperform” rating and issued a $126.00 price objective (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on shares of Crown Castle in a research report on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price for the company. BMO Capital Markets increased their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Finally, Bank of America upped their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.53.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.39% of the company’s stock.

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.