Crown Castle Inc. (NYSE:CCI) Short Interest Up 50.2% in October

Crown Castle Inc. (NYSE:CCI) was the target of a large growth in short interest in October. As of October 15th, there was short interest totaling 7,150,000 shares, a growth of 50.2% from the September 30th total of 4,760,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is currently 2.2 days. Currently, 1.6% of the shares of the stock are short sold. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is currently 2.2 days.

Insider Buying and Selling at Crown Castle

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

Institutional Trading of Crown Castle

Institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in Crown Castle by 13.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,031 shares of the real estate investment trust’s stock valued at $3,665,000 after purchasing an additional 4,276 shares during the period. Private Trust Co. NA boosted its stake in shares of Crown Castle by 10.7% during the first quarter. Private Trust Co. NA now owns 3,487 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 337 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Crown Castle by 226.6% during the first quarter. Teacher Retirement System of Texas now owns 83,703 shares of the real estate investment trust’s stock valued at $8,724,000 after buying an additional 58,071 shares during the period. Resonant Capital Advisors LLC purchased a new position in Crown Castle during the first quarter valued at approximately $202,000. Finally, Mutual Advisors LLC raised its stake in Crown Castle by 20.5% in the first quarter. Mutual Advisors LLC now owns 8,459 shares of the real estate investment trust’s stock worth $848,000 after buying an additional 1,437 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCI. The Goldman Sachs Group increased their target price on shares of Crown Castle from $115.00 to $117.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Crown Castle in a report on Thursday. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Scotiabank boosted their target price on Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a research report on Friday, July 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $125.00 target price on shares of Crown Castle in a research note on Thursday, July 24th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $113.12.

Crown Castle Price Performance

Shares of NYSE:CCI traded down $0.75 during trading on Monday, reaching $89.47. 3,549,224 shares of the company were exchanged, compared to its average volume of 3,278,557. The business’s fifty day simple moving average is $95.85 and its 200-day simple moving average is $100.40. Crown Castle has a 12-month low of $84.20 and a 12-month high of $115.76. The firm has a market capitalization of $38.96 billion, a PE ratio of -8.42, a P/E/G ratio of 0.68 and a beta of 0.95.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.Crown Castle’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, sell-side analysts anticipate that Crown Castle will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th were given a dividend of $1.0625 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. Crown Castle’s dividend payout ratio is presently -39.98%.

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.