Crown Castle Inc. to Issue Quarterly Dividend of $1.06 (NYSE:CCI)

Crown Castle Inc. (NYSE:CCI) announced a quarterly dividend on Wednesday, November 5th. Stockholders of record on Monday, December 15th will be given a dividend of 1.0625 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th.

Crown Castle has increased its dividend by an average of 0.1%annually over the last three years. Crown Castle has a dividend payout ratio of 151.2% meaning 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 $6.58 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 64.6%.

Crown Castle Stock Performance

CCI opened at $89.81 on Thursday. Crown Castle has a one year low of $84.20 and a one year high of $115.76. The stock’s fifty day moving average is $95.42 and its 200-day moving average is $100.23. The company has a market capitalization of $39.11 billion, a PE ratio of -8.45, a P/E/G ratio of 0.68 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. Crown Castle’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.84 EPS. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities research analysts forecast that Crown Castle will post 6.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CCI. The Goldman Sachs Group boosted their price objective on Crown Castle from $115.00 to $117.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. UBS Group upped their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Friday, July 25th. BMO Capital Markets decreased their target price on Crown Castle from $120.00 to $114.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Barclays upped their price objective on shares of Crown Castle from $119.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Finally, JPMorgan Chase & Co. cut their price objective on Crown Castle from $120.00 to $115.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $113.12.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.