Short Interest in Crown Castle Inc. (NYSE:CCI) Grows By 122.4%

Key Points

• Short interest in Crown Castle Inc. increased significantly by 122.4% in September, reaching a total of 10,610,000 shares.
• The company recently paid a quarterly dividend of $1.0625, which translates to an annualized payout of $4.25 and a yield of 4.4%.
• Crown Castle has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and a target price of $115.76.

Crown Castle Inc. (NYSE:CCI - Get Free Report) was the recipient of a large growth in short interest in the month of September. As of September 15th, there was short interest totaling 10,610,000 shares, a growth of 122.4% from the August 31st total of 4,770,000 shares. Based on an average daily trading volume, of 3,370,000 shares, the days-to-cover ratio is presently 3.1 days. Based on an average daily trading volume, of 3,370,000 shares, the days-to-cover ratio is presently 3.1 days.

Crown Castle Price Performance

CCI traded up $0.11 on Friday, reaching $95.57. The company's stock had a trading volume of 2,358,856 shares, compared to its average volume of 3,833,917. The business's 50 day moving average is $99.36 and its 200 day moving average is $101.14. Crown Castle has a 1 year low of $84.20 and a 1 year high of $115.89. The stock has a market cap of $41.62 billion, a price-to-earnings ratio of -8.96, a price-to-earnings-growth ratio of 0.73 and a beta of 0.95.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm's revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Crown Castle has set its FY 2025 guidance at 4.140-4.250 EPS. As a group, research analysts forecast that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, September 15th. Crown Castle's payout ratio is -39.83%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CCI. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price objective (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Wolfe Research upgraded Crown Castle from a "peer perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Monday, September 22nd. JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. KeyCorp reduced their target price on Crown Castle from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Wednesday, September 17th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Crown Castle in a report on Saturday, September 27th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $115.76.

Hedge Funds Weigh In On Crown Castle

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in Crown Castle by 3.0% in the 3rd quarter. GAMMA Investing LLC now owns 7,935 shares of the real estate investment trust's stock valued at $766,000 after purchasing an additional 233 shares during the last quarter. Praxis Investment Management Inc. bought a new stake in Crown Castle in the third quarter valued at $491,000. Cullen Capital Management LLC increased its position in shares of Crown Castle by 2.8% during the second quarter. Cullen Capital Management LLC now owns 1,132,720 shares of the real estate investment trust's stock worth $116,364,000 after acquiring an additional 30,931 shares in the last quarter. Osaic Holdings Inc. boosted its stake in Crown Castle by 1.0% in the second quarter. Osaic Holdings Inc. now owns 37,108 shares of the real estate investment trust's stock valued at $3,819,000 after acquiring an additional 367 shares during the last quarter. Finally, Orion Porfolio Solutions LLC increased its holdings in Crown Castle by 0.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 61,822 shares of the real estate investment trust's stock worth $6,351,000 after acquiring an additional 233 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

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.

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