Boothbay Fund Management LLC Has $23.45 Million Stock Position in Crown Castle Inc. $CCI

Boothbay Fund Management LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 127.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 243,009 shares of the real estate investment trust’s stock after buying an additional 136,197 shares during the period. Crown Castle comprises 0.3% of Boothbay Fund Management LLC’s holdings, making the stock its 19th largest position. Boothbay Fund Management LLC’s holdings in Crown Castle were worth $23,448,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CCI. Winnow Wealth LLC bought a new position in Crown Castle during the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Crown Castle in the second quarter worth about $27,000. LRI Investments LLC acquired a new stake in shares of Crown Castle during the third quarter worth about $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Crown Castle by 269.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 278 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Crown Castle during the 3rd quarter valued at about $44,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 1.5%

NYSE:CCI opened at $87.44 on Friday. Crown Castle Inc. has a twelve month low of $77.01 and a twelve month high of $115.76. The business has a 50 day moving average price of $87.23 and a two-hundred day moving average price of $90.86. The company has a market cap of $38.13 billion, a P/E ratio of 86.57, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s payout ratio is currently 420.79%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Sanford C. Bernstein assumed coverage on Crown Castle in a research note on Thursday, March 5th. They set an “outperform” rating and a $102.00 target price for the company. Weiss Ratings raised shares of Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Jefferies Financial Group reduced their price target on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a report on Wednesday, February 4th. JPMorgan Chase & Co. lowered their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, New Street Research lowered shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a report on Monday, January 5th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.13.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the sale, the vice president directly owned 5,800 shares in the company, valued at approximately $507,442. The trade was a 34.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the business’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the sale, the executive vice president directly owned 25,183 shares in the company, valued at $2,174,300.22. This trade represents a 15.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.