CROWN CASTLE In/SH SH (NYSE:CCI) declared a quarterly dividend on Wednesday, October 17th, RTT News reports. Investors of record on Friday, December 14th will be given a dividend of 1.125 per share by the real estate investment trust on Monday, December 31st. This represents a $4.50 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date is Thursday, December 13th. This is a positive change from CROWN CASTLE In/SH SH’s previous quarterly dividend of $1.05.
CROWN CASTLE In/SH SH has raised its dividend payment by an average of 27.8% per year over the last three years and has raised its dividend every year for the last 3 years. CROWN CASTLE In/SH SH has a payout ratio of 85.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect CROWN CASTLE In/SH SH to earn $5.60 per share next year, which means the company should continue to be able to cover its $4.50 annual dividend with an expected future payout ratio of 80.4%.
NYSE:CCI opened at $115.76 on Friday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.96 and a quick ratio of 0.96. CROWN CASTLE In/SH SH has a 1-year low of $98.85 and a 1-year high of $117.60. The firm has a market capitalization of $48.73 billion, a P/E ratio of 23.87, a P/E/G ratio of 1.44 and a beta of 0.38.
CROWN CASTLE In/SH SH (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 17th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.06. CROWN CASTLE In/SH SH had a return on equity of 4.22% and a net margin of 10.07%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company posted $0.21 EPS. CROWN CASTLE In/SH SH’s revenue for the quarter was up 29.4% on a year-over-year basis. Research analysts expect that CROWN CASTLE In/SH SH will post 5.25 EPS for the current fiscal year.
A number of equities analysts recently weighed in on CCI shares. Morgan Stanley increased their price target on CROWN CASTLE In/SH SH from $116.00 to $118.00 and gave the company an “overweight” rating in a research report on Thursday, August 16th. ValuEngine lowered CROWN CASTLE In/SH SH from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. TheStreet lowered CROWN CASTLE In/SH SH from a “b” rating to a “c+” rating in a research report on Wednesday, October 17th. Moffett Nathanson lowered CROWN CASTLE In/SH SH from a “buy” rating to a “neutral” rating and set a $118.00 price target for the company. in a research report on Monday, December 3rd. Finally, UBS Group set a $120.00 price target on CROWN CASTLE In/SH SH and gave the company a “buy” rating in a research report on Friday, September 28th. Five equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. CROWN CASTLE In/SH SH has an average rating of “Buy” and an average price target of $118.11.
In other CROWN CASTLE In/SH SH news, Director Langenfeld Cynthia K. Christy acquired 900 shares of the firm’s stock in a transaction on Monday, October 22nd. The stock was purchased at an average cost of $106.19 per share, for a total transaction of $95,571.00. Following the transaction, the director now owns 25,424 shares of the company’s stock, valued at approximately $2,699,774.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.36% of the company’s stock.
About CROWN CASTLE In/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service bringing information, ideas and innovations to the people and businesses that need them.
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