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.
ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Ticker Report and is owned by of Ticker Report. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/2888734/crown-castle-international-corporation-cci-to-go-ex-dividend-on-september-14th.html.
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).
Receive News & Ratings for Crown Castle International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle International Corporation and related companies with MarketBeat.com's FREE daily email newsletter.