Crown Castle Inc. (CCI) to Issue Quarterly Dividend of $1.06 on December 31st

by · The Markets Daily

Crown Castle Inc. (NYSE:CCI – Get Free Report) declared a quarterly dividend on Wednesday, November 5th. Stockholders of record on Monday, December 15th will be given a dividend of 1.0625 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, December 15th.

Crown Castle has raised its dividend payment by an average of 0.1%per year over the last three years. Crown Castle has a dividend 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. 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 Down 0.9%

CCI stock traded down $0.86 during trading on Friday, hitting $90.98. 2,430,848 shares of the company’s stock were exchanged, compared to its average volume of 2,534,972. The business has a 50-day moving average price of $92.72 and a two-hundred day moving average price of $97.96. The stock has a market capitalization of $39.62 billion, a price-to-earnings ratio of -8.56, a PEG ratio of 0.68 and a beta of 0.94. Crown Castle has a 52-week low of $84.20 and a 52-week high of $115.76.

Crown Castle (NYSE:CCI – Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 EPS for the quarter, beating the consensus estimate of $1.04 by $0.08. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.84 earnings per share. Crown Castle has set its FY 2025 guidance at 4.230-4.350 EPS. On average, equities research analysts anticipate that Crown Castle will post 6.67 earnings per share for the current fiscal year.

Insider Activity at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the stock in a transaction on Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the sale, the executive vice president directly owned 65,571 shares of the company’s stock, valued at $6,431,203.68. This trade represents a 31.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Crown Castle

A number of large investors have recently bought and sold shares of the company. Winnow Wealth LLC acquired a new stake in Crown Castle in the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Crown Castle during the 2nd quarter worth approximately $27,000. Rise Advisors LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at approximately $28,000. NewSquare Capital LLC boosted its stake in shares of Crown Castle by 74.5% in the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in Crown Castle during the third quarter worth $29,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Crown Castle

(Get Free Report)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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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