Crown Castle International Corporation (NYSE:CCI) declared a quarterly dividend on Wednesday, October 18th, RTT News reports. Stockholders of record on Friday, December 15th will be paid a dividend of 1.05 per share by the real estate investment trust on Friday, December 29th. This represents a $4.20 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, December 14th. This is a positive change from Crown Castle International Corporation’s previous quarterly dividend of $0.95.
Crown Castle International Corporation has a payout ratio of 95.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Crown Castle International Corporation to earn $5.26 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 79.8%.
Crown Castle International Corporation (NYSE:CCI) opened at 103.19 on Friday. The company has a 50 day moving average of $102.75 and a 200-day moving average of $100.74. Crown Castle International Corporation has a 52-week low of $79.38 and a 52-week high of $108.88. The stock has a market capitalization of $41.92 billion, a P/E ratio of 82.35 and a beta of 0.16.
Crown Castle International Corporation (NYSE:CCI) last announced its earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.10 by ($0.07). The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.07 billion. Crown Castle International Corporation had a net margin of 11.35% and a return on equity of 5.93%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. Equities research analysts anticipate that Crown Castle International Corporation will post $1.06 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/10/28/crown-castle-international-corporation-cci-declares-dividend-increase-1-05-per-share.html.
CCI has been the subject of a number of research reports. BidaskClub lowered Crown Castle International Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Crown Castle International Corporation in a research report on Monday, July 10th. Zacks Investment Research upgraded Crown Castle International Corporation from a “hold” rating to a “strong-buy” rating and set a $114.00 price objective for the company in a research report on Tuesday, July 11th. Macquarie reiterated a “buy” rating and issued a $107.00 price objective on shares of Crown Castle International Corporation in a research report on Wednesday, July 19th. Finally, Citigroup Inc. reduced their target price on Crown Castle International Corporation from $100.00 to $96.00 and set a “neutral” rating on the stock in a report on Friday, July 21st. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $110.04.
About Crown Castle International Corporation
Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).
Receive News & Ratings for Crown Castle International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle International Corporation and related companies with MarketBeat.com's FREE daily email newsletter.