Crown Castle International Corporation (NYSE:CCI) to Issue Quarterly Dividend of $1.05

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.

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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).

Dividend History for Crown Castle International Corporation (NYSE:CCI)

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