Crown Castle International Corp. (NYSE:CCI) announced a quarterly dividend on Wednesday, February 21st, RTT News reports. Shareholders of record on Friday, March 16th will be given a dividend of 1.05 per share by the real estate investment trust on Friday, March 30th. This represents a $4.20 annualized dividend and a yield of 3.83%. The ex-dividend date is Thursday, March 15th.
Crown Castle International has raised its dividend payment by an average of 27.8% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Crown Castle International has a payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Crown Castle International to earn $5.71 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 73.6%.
Shares of NYSE:CCI traded up $0.89 during trading hours on Thursday, hitting $109.80. The company’s stock had a trading volume of 2,768,282 shares, compared to its average volume of 2,980,081. Crown Castle International has a 52 week low of $93.14 and a 52 week high of $114.97. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $43,697.76, a P/E ratio of 22.64, a P/E/G ratio of 1.32 and a beta of 0.29.
Several research firms have recently commented on CCI. ValuEngine upgraded shares of Crown Castle International from a “hold” rating to a “buy” rating in a report on Monday. Zacks Investment Research lowered shares of Crown Castle International from a “buy” rating to a “hold” rating in a report on Wednesday, March 28th. Goldman Sachs lowered shares of Crown Castle International from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, March 13th. Deutsche Bank restated a “buy” rating and issued a $120.00 price target on shares of Crown Castle International in a report on Monday, January 22nd. Finally, Guggenheim reiterated a “buy” rating and set a $115.00 price objective on shares of Crown Castle International in a research note on Friday, January 26th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $113.75.
In other Crown Castle International news, SVP Kenneth Jay Simon sold 693 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $108.79, for a total transaction of $75,391.47. Following the sale, the senior vice president now owns 14,869 shares of the company’s stock, valued at approximately $1,617,598.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jay A. Brown sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $108.43, for a total transaction of $1,951,740.00. Following the sale, the insider now directly owns 162,526 shares in the company, valued at approximately $17,622,694.18. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.
Crown Castle International Company Profile
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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