Crown Castle Inc. (NYSE:CCI) Short Interest Down 5.3% in January

Crown Castle Inc. (NYSE:CCI) was the target of a large decline in short interest in the month of 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 shares are short sold. Based on an average trading volume of 3,080,000 shares, the short-interest ratio is presently 1.9 days.

Crown Castle Price Performance

CCI opened at $89.27 on Thursday. The stock’s 50-day moving average price is $90.00 and its 200 day moving average price is $103.28. Crown Castle has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market cap of $38.80 billion, a price-to-earnings ratio of 31.65 and a beta of 0.88. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Analysts Set New Price Targets

CCI has been the subject of several recent analyst reports. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Royal Bank of Canada increased their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. JMP Securities began coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Finally, Scotiabank reduced their target price on 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. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus price target of $108.75.

Institutional Trading of Crown Castle

Several hedge funds have recently made changes to their positions in CCI. AMF Tjanstepension AB lifted its holdings in Crown Castle by 11.7% during the 3rd quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock worth $19,835,000 after buying an additional 17,524 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Crown Castle during the third quarter worth $120,000. Global Retirement Partners LLC raised its stake in shares of Crown Castle by 13.9% in the third quarter. Global Retirement Partners LLC now owns 6,000 shares of the real estate investment trust’s stock valued at $712,000 after acquiring an additional 732 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in 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. Finally, Blue Trust Inc. grew its stake in Crown Castle by 131.4% during the 3rd quarter. Blue Trust Inc. now owns 2,731 shares of the real estate investment trust’s stock worth $324,000 after purchasing an additional 1,551 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.