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

Crown Castle Inc. (NYSE:CCI) announced a quarterly dividend on Wednesday, February 25th. Shareholders of record on Friday, March 13th will be given a dividend of 1.0625 per share by the real estate investment trust on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, March 13th.

Crown Castle has decreased its dividend payment by an average of 0.0%annually over the last three years. Crown Castle has a dividend 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. Equities research 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 Trading Up 0.8%

CCI traded up $0.72 on Thursday, hitting $86.76. The company had a trading volume of 733,377 shares, compared to its average volume of 3,524,157. Crown Castle has a 1 year low of $77.01 and a 1 year high of $115.76. The company’s fifty day moving average price is $86.99 and its 200 day moving average price is $91.99. The firm has a market cap of $37.83 billion, a P/E ratio of 85.84, a PEG ratio of 0.45 and a beta of 0.96.

Institutional Trading of Crown Castle

A number of institutional investors and hedge funds have recently bought and sold shares of CCI. Winnow Wealth LLC bought a new position in Crown Castle in the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Crown Castle in the second quarter worth $27,000. NewSquare Capital LLC boosted its holdings in shares of Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares during the period. LRI Investments LLC bought a new position in shares of Crown Castle during the third quarter worth about $29,000. Finally, Wiser Advisor Group LLC acquired a new stake in shares of Crown Castle in the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.