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

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. Based on an average daily trading volume, of 3,080,000 shares, the days-to-cover ratio is currently 1.9 days. Approximately 1.3% of the shares of the company are short sold.

Institutional Trading of Crown Castle

Large investors have recently made changes to their positions in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the third quarter worth $25,000. Twin Tree Management LP acquired a new position in Crown Castle during the fourth quarter worth about $25,000. Rosenberg Matthew Hamilton grew its stake in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Finally, Roxbury Financial LLC purchased a new position in Crown Castle in the 4th quarter worth approximately $37,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CCI shares. Scotiabank reduced their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. JMP Securities started coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective on the stock. Wells Fargo & Company decreased their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Moffett Nathanson lowered their price target on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Price Performance

NYSE:CCI opened at $89.27 on Thursday. The stock has a 50 day moving average of $90.00 and a two-hundred day moving average of $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 P/E 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.

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.