MFA Wealth Advisors LLC Acquires Shares of 355 Crown Castle Inc. (NYSE:CCI)

MFA Wealth Advisors LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 355 shares of the real estate investment trust’s stock, valued at approximately $35,000.

A number of other hedge funds have also recently modified their holdings of CCI. Vanguard Group Inc. boosted its position in Crown Castle by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after purchasing an additional 673,243 shares in the last quarter. Cohen & Steers Inc. grew its position in Crown Castle by 7.9% during the fourth quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after buying an additional 834,198 shares during the period. Wellington Management Group LLP grew its position in Crown Castle by 11.1% during the fourth quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after buying an additional 1,126,394 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Crown Castle by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,478,477 shares of the real estate investment trust’s stock valued at $625,975,000 after buying an additional 122,948 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Crown Castle in the fourth quarter worth about $581,503,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is owned by insiders.

Crown Castle Trading Down 0.4 %

Crown Castle stock traded down $0.41 during trading on Wednesday, reaching $109.57. 1,452,187 shares of the company were exchanged, compared to its average volume of 2,702,708. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $103.63 and its two-hundred day simple moving average is $102.94. The company has a market capitalization of $47.62 billion, a P/E ratio of 34.24 and a beta of 0.83. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping 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%. Crown Castle’s revenue was down 12.9% compared to the same quarter last year. During the same period last year, the business earned $2.05 earnings per share. On average, equities research analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.71%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is 195.63%.

Analyst Ratings Changes

CCI has been the topic of a number of analyst reports. Raymond James restated an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Barclays boosted their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group began coverage on Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, Bank of America increased their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.53.

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.