Boothbay Fund Management LLC Buys Shares of 4,107 Crown Castle Inc. (NYSE:CCI)

Boothbay Fund Management LLC bought a new position in Crown Castle Inc. (NYSE:CCI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 4,107 shares of the real estate investment trust’s stock, valued at approximately $373,000.

A number of other hedge funds also recently made changes to their positions in CCI. Twin Tree Management LP purchased a new position in Crown Castle in the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC raised its position in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC bought a new stake in Crown Castle in the fourth quarter worth $37,000. Marshall Investment Management LLC bought a new stake in shares of Crown Castle in the 4th quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $53,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Up 0.5 %

CCI opened at $106.32 on Friday. The firm has a market capitalization of $46.29 billion, a price-to-earnings ratio of 37.70 and a beta of 0.93. The company’s 50 day simple moving average is $100.05 and its two-hundred day simple moving average is $98.23. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.62). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business posted $1.72 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. Analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is currently -58.18%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CCI shares. JPMorgan Chase & Co. lowered their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. Scotiabank increased their price objective on shares of Crown Castle from $99.00 to $109.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $111.18.

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.