Crown Castle International Corporation (CCI) To Go Ex-Dividend on September 14th

Crown Castle International Corporation (NYSE:CCI) announced a quarterly dividend on Thursday, August 3rd, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.95 per share by the real estate investment trust on Friday, September 29th. This represents a $3.80 annualized dividend and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, September 14th.

Crown Castle International Corporation has a payout ratio of 82.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Crown Castle International Corporation to earn $5.25 per share next year, which means the company should continue to be able to cover its $3.80 annual dividend with an expected future payout ratio of 72.4%.

Shares of Crown Castle International Corporation (NYSE:CCI) opened at 106.21 on Wednesday. Crown Castle International Corporation has a 52 week low of $79.38 and a 52 week high of $108.88. The company has a market capitalization of $43.15 billion, a PE ratio of 84.76 and a beta of 0.18. The firm’s 50-day moving average price is $103.62 and its 200 day moving average price is $98.50.

Crown Castle International Corporation (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Crown Castle International Corporation had a net margin of 11.14% and a return on equity of 6.21%. Crown Castle International Corporation’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS. Equities analysts predict that Crown Castle International Corporation will post $1.16 EPS for the current year.

In other Crown Castle International Corporation news, Director J Landis Martin bought 30,000 shares of the firm’s stock in a transaction on Friday, July 28th. The shares were acquired at an average cost of $100.64 per share, with a total value of $3,019,200.00. Following the purchase, the director now directly owns 99,335 shares of the company’s stock, valued at approximately $9,997,074.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

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A number of research analysts recently weighed in on the stock. BidaskClub raised shares of Crown Castle International Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 14th. Bank of America Corporation raised their price target on shares of Crown Castle International Corporation from $107.00 to $114.00 and gave the company a “buy” rating in a research note on Friday, September 8th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Crown Castle International Corporation in a research note on Monday, June 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $110.00 price target on shares of Crown Castle International Corporation in a research note on Monday, July 10th. Finally, Zacks Investment Research lowered shares of Crown Castle International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Crown Castle International Corporation currently has a consensus rating of “Buy” and an average target price of $106.45.

About Crown Castle International Corporation

Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).

Dividend History for Crown Castle International Corporation (NYSE:CCI)

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