Crown Castle Inc. (NYSE:CCI) Shares Set to Pay Quarterly Dividend of $1.06

Crown Castle Inc. (NYSE:CCI) declared a quarterly dividend on Thursday, November 5th. Stockholders of record on Tuesday, December 15th will be paid 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 of this dividend is Tuesday, December 15th.

Crown Castle has a 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. Equities research 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 Down 1.0%

CCI opened at $91.22 on Friday. The stock has a market cap of $38.81 billion, a PE ratio of 20.44, a PEG ratio of 0.81 and a beta of 0.88. The business has a 50 day moving average of $76.84 and a 200-day moving average of $82.26. Crown Castle has a 52 week low of $65.32 and a 52 week high of $95.07.

Crown Castle (NYSE:CCI) last posted 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 firm had revenue of $995.00 million during the quarter, compared to the consensus estimate of $1.01 billion. Crown Castle had a negative return on equity of 42.11% and a net margin of 20.12%. Crown Castle’s revenue for the quarter was down 7.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.12 EPS. Equities analysts anticipate that Crown Castle will post 4.40 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on CCI shares. Barclays increased their price target on shares of Crown Castle from $84.00 to $86.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 30th. Citizens Jmp dropped their price objective on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research note on Friday, July 24th. Royal Bank Of Canada cut their price objective on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Jefferies Financial Group decreased their target price on shares of Crown Castle from $88.00 to $82.00 and set a “hold” rating for the company in a research note on Wednesday, July 15th. Finally, Morgan Stanley set a $85.00 target price on shares of Crown Castle in a report on Monday, September 21st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

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.