CROWN CASTLE In/SH SH (NYSE:CCI) declared a quarterly dividend on Thursday, August 2nd, RTT News reports. Stockholders of record on Friday, September 14th will be given a dividend of 1.05 per share by the real estate investment trust on Friday, September 28th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Thursday, September 13th.
CROWN CASTLE In/SH SH has increased its dividend payment by an average of 27.8% annually 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 80.2% 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 In/SH SH to earn $5.75 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 73.0%.
CCI opened at $113.02 on Friday. The company has a market capitalization of $47.43 billion, a PE ratio of 23.30, a PEG ratio of 1.73 and a beta of 0.37. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.91 and a quick ratio of 0.91. CROWN CASTLE In/SH SH has a 52 week low of $98.85 and a 52 week high of $114.97.
CROWN CASTLE In/SH SH (NYSE:CCI) last released its earnings results on Wednesday, July 18th. The real estate investment trust reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $1.27 by ($0.91). The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.32 billion. CROWN CASTLE In/SH SH had a net margin of 9.72% and a return on equity of 4.20%. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 EPS. research analysts expect that CROWN CASTLE In/SH SH will post 5.24 earnings per share for the current fiscal year.
A number of brokerages have issued reports on CCI. Morgan Stanley lowered their price objective on CROWN CASTLE In/SH SH from $118.00 to $116.00 and set an “overweight” rating for the company in a research note on Thursday, May 31st. Cowen reiterated a “buy” rating and set a $121.00 price objective on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Guggenheim reiterated a “buy” rating and set a $120.00 price objective on shares of CROWN CASTLE In/SH SH in a research note on Friday, July 20th. Zacks Investment Research upgraded CROWN CASTLE In/SH SH from a “hold” rating to a “buy” rating and set a $124.00 price objective for the company in a research note on Thursday, July 19th. Finally, Citigroup lifted their price objective on CROWN CASTLE In/SH SH from $109.00 to $110.00 and gave the company a “neutral” rating in a research note on Tuesday, July 24th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $116.91.
In related news, Director J Landis Martin acquired 6,100 shares of the stock in a transaction on Tuesday, August 7th. The stock was acquired at an average price of $110.14 per share, for a total transaction of $671,854.00. Following the completion of the purchase, the director now owns 107,822 shares of the company’s stock, valued at $11,875,515.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert E. Garrison II sold 2,451 shares of CROWN CASTLE In/SH SH stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $113.96, for a total value of $279,315.96. Following the transaction, the director now owns 23,100 shares of the company’s stock, valued at approximately $2,632,476. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by insiders.
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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