Short Interest in Crown Castle Inc. (NYSE:CCI) Decreases By 5.3%

Crown Castle Inc. (NYSE:CCI) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 5,730,000 shares, a decline of 5.3% from the January 15th total of 6,050,000 shares. Currently, 1.3% of the company’s stock are sold short. Based on an average daily volume of 3,080,000 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Scotiabank dropped their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Royal Bank of Canada raised their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

CCI stock opened at $88.15 on Tuesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market capitalization of $38.31 billion, a P/E ratio of 31.26 and a beta of 0.88. The business has a 50 day simple moving average of $90.70 and a 200-day simple moving average of $103.73. Crown Castle has a twelve month low of $84.20 and a twelve month high of $120.92.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors and hedge funds have recently made changes to their positions in CCI. Malaga Cove Capital LLC increased its position in Crown Castle by 1.8% in the 3rd quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after acquiring an additional 100 shares during the period. Bleakley Financial Group LLC increased its holdings in shares of Crown Castle by 1.8% in the third quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock valued at $777,000 after purchasing an additional 117 shares during the period. New Century Financial Group LLC increased its holdings in shares of Crown Castle by 4.8% in the third quarter. New Century Financial Group LLC now owns 2,645 shares of the real estate investment trust’s stock valued at $314,000 after purchasing an additional 122 shares during the period. Napa Wealth Management raised its stake in shares of Crown Castle by 4.6% during the third quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock worth $328,000 after purchasing an additional 122 shares during the last quarter. Finally, Leo Wealth LLC lifted its holdings in shares of Crown Castle by 0.3% during the third quarter. Leo Wealth LLC now owns 35,763 shares of the real estate investment trust’s stock worth $4,243,000 after purchasing an additional 123 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.