Crown Castle Inc. (NYSE:CCI) Plans Quarterly Dividend of $1.06

Crown Castle Inc. (NYSE:CCI) announced a quarterly dividend on Thursday, November 5th. Shareholders 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 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date 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. 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%

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

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). Crown Castle had a net margin of 20.12% and a negative return on equity of 42.11%. The company had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm earned $1.12 EPS. The firm’s quarterly revenue was down 7.2% on a year-over-year basis. As a group, research analysts anticipate that Crown Castle will post 4.40 EPS for the current year.

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.