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

Mutual of America Capital Management LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,076 shares of the real estate investment trust’s stock after selling 2,610 shares during the period. Mutual of America Capital Management LLC’s holdings in Crown Castle were worth $6,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co boosted its holdings in shares of Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. ST Germain D J Co. Inc. acquired a new position in shares of Crown Castle during the 2nd quarter worth approximately $27,000. Almanack Investment Partners LLC. purchased a new stake in shares of Crown Castle during the 3rd quarter valued at approximately $28,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Crown Castle during the 2nd quarter valued at approximately $29,000. Finally, Operose Advisors LLC purchased a new stake in shares of Crown Castle during the 3rd quarter valued at approximately $30,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $96.72 on Friday. The company has a 50-day simple moving average of $106.16 and a 200-day simple moving average of $104.99. Crown Castle Inc. has a one year low of $84.72 and a one year high of $134.50. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $42.03 billion, a price-to-earnings ratio of 27.95, a PEG ratio of 2.58 and a beta of 0.73.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.47%. Crown Castle’s payout ratio is 180.92%.

Analysts Set New Price Targets

Several analysts have recently commented on CCI shares. Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $107.00 to $110.00 in a research report on Friday, January 19th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $118.93.

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.