Boothbay Fund Management LLC Acquires 104,472 Shares of Crown Castle Inc. $CCI

Boothbay Fund Management LLC grew its holdings in Crown Castle Inc. (NYSE:CCI) by 4,464.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,812 shares of the real estate investment trust’s stock after purchasing an additional 104,472 shares during the period. Boothbay Fund Management LLC’s holdings in Crown Castle were worth $10,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Winnow Wealth LLC purchased a new position in Crown Castle in the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new position in Crown Castle in the 2nd quarter worth about $27,000. Rise Advisors LLC purchased a new position in shares of Crown Castle during the first quarter worth approximately $28,000. NewSquare Capital LLC raised its stake in shares of Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in shares of Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE CCI opened at $90.98 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The business has a fifty day moving average price of $92.72 and a 200 day moving average price of $97.96. The stock has a market capitalization of $39.62 billion, a P/E ratio of -8.56, a price-to-earnings-growth ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio is presently -39.98%.

Analyst Upgrades and Downgrades

Several research firms have commented on CCI. Weiss Ratings restated a “sell (d)” rating on shares of Crown Castle in a report on Monday. Wolfe Research raised Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research report on Monday, September 22nd. Citigroup cut their price target on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Wells Fargo & Company lowered 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, October 20th. Finally, KeyCorp cut their target price on shares of Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.59.

Insiders Place Their Bets

In other Crown Castle news, EVP Daniel K. Schlanger sold 30,000 shares of Crown Castle stock in a transaction on Friday, October 24th. The shares were sold at an average price of $98.08, for a total value of $2,942,400.00. Following the transaction, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. The trade was a 31.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.10% of the stock is currently owned by company insiders.

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.