Crown Castle Inc. (NYSE:CCI) Plans $1.57 Quarterly Dividend

Crown Castle Inc. (NYSE:CCI) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 1.565 per share by the real estate investment trust on Monday, March 31st. This represents a $6.26 annualized dividend and a dividend yield of 6.84%.

Crown Castle has increased its dividend by an average of 4.7% annually over the last three years. Crown Castle has a dividend payout ratio of 222.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Crown Castle to earn $6.58 per share next year, which means the company should continue to be able to cover its $6.26 annual dividend with an expected future payout ratio of 95.1%.

Crown Castle Price Performance

NYSE CCI opened at $91.58 on Thursday. Crown Castle has a one year low of $84.20 and a one year high of $120.92. The stock has a 50-day moving average of $89.63 and a 200 day moving average of $102.61. The company has a market capitalization of $39.80 billion, a price-to-earnings ratio of 32.48 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research analyst reports. Citigroup reduced their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Moffett Nathanson decreased their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Company Profile

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.