10 Best 5G Stocks To Buy According to Short Sellers

7. Crown Castle Inc. (NYSE:CCI)

Short Interest as % of Shares Outstanding: 1.12%

Number of Hedge Fund Holders: 38

Crown Castle Inc. (NYSE:CCI) is a real estate investment trust (REIT) and a key player in the shared communications infrastructure sector. The company has a network of more than 40,000 cell towers, over 90,000 route miles of fiber, and around 115,000 small cells on air or under contract. It ranks at 7 on our list of best 5G stocks to buy according to short sellers.

Crown Castle’s (NYSE:CCI) 5G offerings position the company as a vital player in the future of communications infrastructure. As revealed by the company’s management at its latest earnings call, the continued demand for wireless data, which is driven by the expansion of 5G networks, supports a strong growth outlook for the company, especially within its tower business.

Management mentioned that the company’s agreements with major carriers provide a reliable and steady income, which could help it achieve an expected 4.5% revenue growth in 2024. These contracts ensure that the company has a strong financial foundation, even if the overall market experiences ups and downs.

Moreover, Crown Castle’s (NYSE:CCI) strategic focus is on optimizing its fiber and small cell businesses, which is set to enhance its 5G-related growth potential. The company’s shift towards providing additional customer solutions that use its existing high-quality fiber footprint will allow it to add revenue with reduced capital expenditure, which could improve profitability.

The small cell business, which is an important component of 5G networks, is also positioned for solid growth. Despite a short-term reduction in anchor node builds (main starting points for expanding a small cell network), the company expects small cell revenues to grow by double digits over the next several years. This growth is supported by the company’s large number of planned projects and the long-term need for its customers to build denser, more powerful networks in important areas.

In Q2, 38 hedge funds held Crown Castle’s (NYSE:CCI) shares worth $1.045 billion. As of June 30, Fisher Asset Management is the company’s most prominent shareholder with 4.88 million shares, worth $477.223 million.