Crown Castle International Corp. (NYSE:CCI) announced a quarterly dividend on Thursday, May 17th, RTT News reports. Investors of record on Friday, June 15th will be paid a dividend of 1.05 per share by the real estate investment trust on Friday, June 29th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.12%.
Crown Castle International has raised its dividend by an average of 27.8% per year over the last three years and has raised its dividend every year for the last 3 years. Crown Castle International has a dividend payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Crown Castle International to earn $5.74 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 73.2%.
Shares of Crown Castle International opened at $101.91 on Friday, according to MarketBeat Ratings. The stock has a market cap of $42.72 billion, a P/E ratio of 20.76, a P/E/G ratio of 1.26 and a beta of 0.29. Crown Castle International has a fifty-two week low of $102.90 and a fifty-two week high of $103.38. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.
A number of research analysts recently issued reports on the company. Cowen reaffirmed a “buy” rating and set a $119.00 target price on shares of Crown Castle International in a report on Friday, April 20th. Zacks Investment Research raised Crown Castle International from a “sell” rating to a “hold” rating in a report on Monday, January 29th. Deutsche Bank reaffirmed a “buy” rating and set a $120.00 target price on shares of Crown Castle International in a report on Monday, January 22nd. Guggenheim reaffirmed a “buy” rating and set a $115.00 target price on shares of Crown Castle International in a report on Friday, January 26th. Finally, Barclays lifted their target price on Crown Castle International from $107.00 to $110.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 17th. Nine research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $114.75.
In related news, insider Jay A. Brown sold 18,000 shares of Crown Castle International stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $108.43, for a total value of $1,951,740.00. Following the transaction, the insider now owns 162,526 shares of the company’s stock, valued at approximately $17,622,694.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kenneth Jay Simon sold 693 shares of Crown Castle International stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $108.79, for a total value of $75,391.47. Following the completion of the transaction, the senior vice president now directly owns 14,869 shares in the company, valued at approximately $1,617,598.51. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.
About Crown Castle International
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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.
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