Crown Castle Inc. (NYSE:CCI) Short Interest Update

by · The Markets Daily

Crown Castle Inc. (NYSE:CCI – Get Free Report) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 8,500,000 shares, an increase of 20.2% from the February 28th total of 7,070,000 shares. Based on an average daily trading volume, of 3,510,000 shares, the short-interest ratio is presently 2.4 days. Currently, 2.0% of the shares of the company are sold short.

Institutional Investors Weigh In On Crown Castle

Hedge funds have recently made changes to their positions in the stock. Accurate Wealth Management LLC lifted its position in shares of Crown Castle by 5.4% in the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 124 shares during the period. Exchange Traded Concepts LLC lifted its position in Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 126 shares during the period. IFP Advisors Inc boosted its stake in Crown Castle by 5.9% during the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 133 shares in the last quarter. Howard Capital Management Inc. increased its holdings in Crown Castle by 1.2% in the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after buying an additional 135 shares during the period. Finally, Cidel Asset Management Inc. raised its stake in shares of Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 137 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CCI shares. JPMorgan Chase & Co. lowered their target price on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Friday, March 14th. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research report on Friday, March 14th. Finally, Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average target price of $110.00.

Check Out Our Latest Analysis on CCI

Crown Castle Stock Performance

Shares of NYSE CCI traded down $0.79 during trading hours on Wednesday, hitting $103.82. 2,044,233 shares of the company’s stock were exchanged, compared to its average volume of 2,860,206. The company’s 50-day moving average price is $94.75 and its 200-day moving average price is $100.30. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92. The stock has a market capitalization of $45.21 billion, a price-to-earnings ratio of 36.82 and a beta of 0.89. 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 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is currently -69.71%.

Crown Castle Company Profile

(Get Free Report)

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.

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