Crown Castle (CCI)
Crown Castle is a real estate investment trust and provider of shared communications infrastructure in the United States. Its network includes over 40,000 cell towers and nearly 80,000 route miles of fiber supporting small cells and fiber solutions. Headquartered in Houston, Texas, the company has 100 offices nationwide.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 19.76% per annum.
- CCI price at the close of November 19, 2024 was $104.47 and was higher than the top border of the primary price channel by $5.44 (5.50%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 14.54% per annum.
- CCI price at the close of November 19, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of CCI price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: April 22, 2021
End date: July 10, 2024
a = 5.5144
b = -0.0006
s = 0.0912
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0006) – 1
= -19.76%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0912) – 1
= 44.01%
April 22, 2021 calculations
Top border of price channel:
Exp(Y356)
= Exp(a + b × X356 + 2 × s)
= Exp(a + b × 519 + 2 × s)
= Exp(5.5144 + -0.0006 × 519 + 2 × 0.0912)
= Exp(5.3837)
= $217.83
Bottom border of price channel:
Exp(Y356)
= Exp(a + b × X356 – 2 × s)
= Exp(a + b × 519 – 2 × s)
= Exp(5.5144 + -0.0006 × 519 – 2 × 0.0912)
= Exp(5.0190)
= $151.26
July 10, 2024 calculations
Top border of price channel:
Exp(Y1,164)
= Exp(a + b × X1,164 + 2 × s)
= Exp(a + b × 1,694 + 2 × s)
= Exp(5.5144 + -0.0006 × 1,694 + 2 × 0.0912)
= Exp(4.6750)
= $107.23
Bottom border of price channel:
Exp(Y1,164)
= Exp(a + b × X1,164 – 2 × s)
= Exp(a + b × 1,694 – 2 × s)
= Exp(5.5144 + -0.0006 × 1,694 – 2 × 0.0912)
= Exp(4.3103)
= $74.46
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 19.76% per annum.
- CCI price at the close of November 19, 2024 was $104.47 and was higher than the top border of the primary price channel by $5.44 (5.50%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: July 31, 2023
End date: November 19, 2024
a = 4.0236
b = 0.0004
s = 0.0697
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0004) – 1
= 14.54%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0697) – 1
= 32.15%
July 31, 2023 calculations
Top border of price channel:
Exp(Y927)
= Exp(a + b × X927 + 2 × s)
= Exp(a + b × 1,349 + 2 × s)
= Exp(4.0236 + 0.0004 × 1,349 + 2 × 0.0697)
= Exp(4.6647)
= $106.13
Bottom border of price channel:
Exp(Y927)
= Exp(a + b × X927 – 2 × s)
= Exp(a + b × 1,349 – 2 × s)
= Exp(4.0236 + 0.0004 × 1,349 – 2 × 0.0697)
= Exp(4.3859)
= $80.31
November 19, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,826 + 2 × s)
= Exp(4.0236 + 0.0004 × 1,826 + 2 × 0.0697)
= Exp(4.8421)
= $126.73
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,826 – 2 × s)
= Exp(4.0236 + 0.0004 × 1,826 – 2 × 0.0697)
= Exp(4.5633)
= $95.90
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 14.54% per annum.
- CCI price at the close of November 19, 2024 was inside the secondary price channel.