Crown Castle’s (NYSE: CCI) stock price was $101.82 at the market close on Wednesday August 13. That figure was up 16 percent over the past six months. By comparison, American Tower (NYSE: AMT) stock closed at $204.88 while SBA Communications (NASDAQ: SBAC) came in at $219.39. Those figures both reflect a 7 percent growth over the same period. Why such a big increase for CCI?
Certainly, the past year has been pivotal for the company. A shareholder revolt in 2024 prompted management to undertake a strategic review of the viability of its fiber and small cells business. The ensuing uncertainty and corporate turmoil created doubts among investors and the stock dropped from a high of $120.25 on September 16, 2024, to a low of $84.33 on January 10, 2025.
Crown Castle’s Board on March 17, agreed to sell its fiber and small cell businesses for a total of $8.5 billion to Zayo and EQT Active Core Infrastructure fund, Inside Towers reported. Such a deal had been anticipated by investors, and the stock price increased steadily through the first quarter. At the market close on that day, CCI’s stock price reached $102.91, and has remained in the $100.00 to $115.00 a share range since then.
Crown Castle, calling itself the largest pure-play tower company in the U.S., reported 39,897 towers at the end of 2Q25. Comparatively, American Tower owned and managed 41,843 towers in its U.S. & Canada region, and SBA had 17,437 towers in its domestic operations. Crown Castle’s business focuses solely on towers, while American Tower also operates CoreSite data centers, and SBA manages significant international tower assets.
It can be argued that Crown Castle’s stock price, over the past six months, has made greater progress than its competitors, because it came from a lower starting point. Today, the company’s stock reflects a return to a stable and predictable mode operating as a tower company.
Several market trends are benefiting all tower companies. Mobile data demand continues to increase, doubling approximately every three to four years. This escalating demand drives mobile network operators to expand capacity and coverage by deploying additional spectrum and new cell sites on more towers, with more spectrum expected to be auctioned by the FCC in the near future. Furthermore, tower companies maintain long-term leases with MNOs, ensuring reliable revenue streams throughout the duration of these agreements.
Crown Castle appears well-positioned to capitalize on this upbeat trend. In the second quarter of 2025, excluding the impact of Sprint Cancellations, the company reported 4.7 percent organic growth, which was driven by an increase in demand across its portfolio of tower business.
By John Celentano, Inside Towers Business Editor
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