CROWN CASTLE IN/SH SH (NYSE:CCI) declared a quarterly dividend on Wednesday, October 16th, RTT News reports. Shareholders of record on Friday, December 13th will be paid a dividend of 1.20 per share by the real estate investment trust on Tuesday, December 31st. This represents a $4.80 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, December 12th. This is a boost from CROWN CASTLE IN/SH SH’s previous quarterly dividend of $1.13.
CCI stock opened at $135.88 on Tuesday. CROWN CASTLE IN/SH SH has a 1-year low of $103.21 and a 1-year high of $149.47. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 2.05. The business’s 50 day moving average is $135.52 and its 200-day moving average is $136.31. The firm has a market cap of $56.32 billion, a P/E ratio of 24.80, a P/E/G ratio of 1.54 and a beta of 0.25.
CROWN CASTLE IN/SH SH (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.09. CROWN CASTLE IN/SH SH had a return on equity of 8.07% and a net margin of 16.12%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the company earned $0.33 EPS. CROWN CASTLE IN/SH SH’s revenue was up 10.1% on a year-over-year basis. Sell-side analysts forecast that CROWN CASTLE IN/SH SH will post 5.69 EPS for the current year.
In other CROWN CASTLE IN/SH SH news, COO Robert Carl Ackerman sold 10,500 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $143.43, for a total value of $1,506,015.00. Following the completion of the transaction, the chief operating officer now directly owns 7,806 shares of the company’s stock, valued at $1,119,614.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director J Landis Martin bought 1,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was bought at an average cost of $130.62 per share, with a total value of $130,620.00. Following the completion of the purchase, the director now owns 131,617 shares of the company’s stock, valued at approximately $17,191,812.54. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by corporate insiders.
CCI has been the topic of several recent analyst reports. Bank of America restated a “buy” rating and issued a $151.00 target price (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a research note on Wednesday, August 14th. ValuEngine cut shares of CROWN CASTLE IN/SH SH from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group lifted their price target on shares of CROWN CASTLE IN/SH SH from $130.00 to $137.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley boosted their price target on shares of CROWN CASTLE IN/SH SH from $138.00 to $149.00 and gave the company an “overweight” rating in a research report on Thursday, September 19th. Finally, Guggenheim set a $148.00 price objective on shares of CROWN CASTLE IN/SH SH and gave the stock a “hold” rating in a research note on Thursday, September 12th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $137.33.
About CROWN CASTLE IN/SH SH
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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