Crown Castle Inc. (CCI) To Go Ex-Dividend on September 15th

Crown Castle Inc. (NYSE:CCI) declared a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, September 15th will be paid a dividend of 1.0625 per share by the real estate investment trust on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 15th.

Crown Castle has decreased its dividend payment by an average of 0.0%annually over the last three years. Crown Castle has a dividend payout ratio of 151.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Crown Castle to earn $4.77 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 89.1%.

Crown Castle Trading Up 1.2%

Crown Castle stock opened at $74.72 on Friday. The firm has a 50 day moving average of $81.64 and a 200 day moving average of $85.04. The firm has a market capitalization of $32.61 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 0.39 and a beta of 0.95. Crown Castle has a 12-month low of $69.72 and a 12-month high of $106.68.

Institutional Investors Weigh In On Crown Castle

Several institutional investors have recently made changes to their positions in the company. Wiser Advisor Group LLC purchased a new stake in Crown Castle in the 3rd quarter worth about $29,000. Hilton Head Capital Partners LLC raised its holdings in shares of Crown Castle by 55.6% in the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 134 shares during the period. Triumph Capital Management bought a new stake in shares of Crown Castle during the 3rd quarter worth approximately $31,000. Global Assets Advisory LLC bought a new stake in shares of Crown Castle during the 1st quarter worth approximately $32,000. Finally, Salomon & Ludwin LLC boosted its holdings in Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 215 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.