Crown Castle Inc. (NYSE:CCI – Get Free Report) announced a quarterly dividend on Thursday, November 5th. Stockholders of record on Tuesday, December 15th will be given a dividend of $1.0625 per share by the real estate investment trust on Thursday, December 31st. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, December 15th.
Crown Castle has a payout ratio of 151.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Crown Castle to earn $4.72 per share next year, which means the company should continue to be able to cover its $4.25 annual dividend with an expected future payout ratio of 90.0%.
Crown Castle Stock Performance
Shares of CCI opened at $89.70 on Friday. The company has a 50 day moving average price of $76.84 and a 200-day moving average price of $82.26. Crown Castle has a fifty-two week low of $65.32 and a fifty-two week high of $95.07. The stock has a market capitalization of $38.16 billion, a PE ratio of 46.96, a PEG ratio of 0.81 and a beta of 0.88.
Crown Castle (NYSE:CCI – Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Crown Castle had a net margin of 20.12% and a negative return on equity of 42.11%. Crown Castle’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 earnings per share. Equities research analysts forecast that Crown Castle will post 4.40 EPS for the current year.
Crown Castle Company Profile
Crown Castle Inc (NYSE: CCI) is a real estate investment trust that owns, operates and leases communications infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.
The company’s infrastructure has historically included approximately 40,000 cell towers, about 90,000 route miles of fiber and a large portfolio of small-cell installations.
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