Mutual of America Capital Management LLC Has $5.72 Million Stock Holdings in Crown Castle Inc. $CCI

Key Points

• Mutual of America Capital Management LLC has increased its stake in Crown Castle Inc. by 10.1%, holding 55,643 shares valued at approximately $5.72 million.
• Several analysts have adjusted their price targets for Crown Castle stock, with Citigroup lowering its target from $124 to $110, while Wells Fargo decreased it from $125 to $115.
• Crown Castle recently announced a quarterly dividend of $1.0625 per share, reflecting an annual yield of 4.3%.

Mutual of America Capital Management LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 10.1% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 55,643 shares of the real estate investment trust's stock after buying an additional 5,105 shares during the quarter. Mutual of America Capital Management LLC's holdings in Crown Castle were worth $5,716,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CCI. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth about $26,000. Centerpoint Advisors LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth about $26,000. Stone House Investment Management LLC acquired a new stake in Crown Castle in the 1st quarter worth about $27,000. Rise Advisors LLC acquired a new stake in Crown Castle in the 1st quarter worth about $28,000. Finally, WPG Advisers LLC acquired a new stake in Crown Castle in the 1st quarter worth about $33,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Crown Castle from $124.00 to $110.00 and set a "buy" rating for the company in a research note on Thursday, October 16th. Wells Fargo & Company dropped their price objective on shares of Crown Castle from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday. Scotiabank lifted their price objective on shares of Crown Castle from $109.00 to $114.00 and gave the stock a "sector perform" rating in a research note on Friday, July 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of Crown Castle in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada set a $112.00 price objective on shares of Crown Castle and gave the stock an "outperform" rating in a research note on Wednesday, October 1st. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $113.44.

Crown Castle Trading Down 0.1%

Shares of NYSE:CCI opened at $98.73 on Wednesday. The firm has a 50 day moving average of $97.23 and a 200-day moving average of $100.57. The stock has a market capitalization of $43.00 billion, a PE ratio of -9.25, a PEG ratio of 0.75 and a beta of 0.95. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 EPS. On average, research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 annualized dividend and a yield of 4.3%. Crown Castle's dividend payout ratio is currently -39.83%.

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.

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