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WHY HAS CROWN CASTLE STOCK DECLINED

Crown Castle International Corp. (CCI) is a provider of shared communications infrastructure in the United States. The company owns, operates, and leases shared wireless infrastructure including towers and structures such as rooftops and fiber primarily supporting small cell networks. Crown Castle’s network includes over 40,000 cell towers and approximately 85,000 route miles of fiber supporting small cells and fiber solutions. 

The company has a team of approximately 5,000 employees across nearly 100 offices nationwide. Crown Castle’s solutions are built with the future in mind. They play an important role in tomorrow’s smarter, better-connected communities, while paving the way for new innovations in the way we live, work and stay safe. 

Crown Castle works closely with community members, government officials, and its customers to design and build solutions that meet their unique connectivity needs—from wireless coverage to smart city solutions to custom fiber optic networks. Crown Castle is committed to being a responsible member of the communities where it lives and works. Its infrastructure solutions create important connections that make communities around the country safer, better places to live.  This hidden pillar in our communities has potential for a bright future in connectivity.

Why Has CCI Stock Declined

Crown Castle International Corp. (CCI) stock has declined by -4.95% over the past month and -38.97% over the past year. The stock closed at $98.53 in the latest trading session, marking a -0.72% move from the prior day.

Likely the major driver of those declines is Crown Castle's lowered outlook for 2023. The Compnay is expecting a decline in tower activity for the remainder of 2023. Additionally, Crown Castle’s stock price is declining due to the market’s macroeconomic fears. 

However, these declines could be an overreaction offering an opportunistic entry point. According to TipRanks, CCI stock has a Hold consensus rating with six Buy, ten Hold, and one Sell recommendations. Moreover, analysts’ average price target of $211.50 implies an upside potential of 16.54%.

My Thoughts on CCI

Over the past 90 days, CCI stock has had an average high of $106.28 and an average low of $104.06. Considering the importance of their Real Estate and demand for connectivity, I expect an upward trend and consider the Stock to be Fairly Priced around $100.00. I don't see much Swing Trading potential with 1.65% Average Variance between Open and Close price). I have utilized a Dollar Cost Averaging Strategy increasing the number of Shares owned at 4% incremental declines over the past six months. I see CCI as a stable Dividend-Paying Stock and expect a Long-term gain on Investment as the Macro outlook changes and greater demand for Smart Cities arises.


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