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

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 annualized dividend and a yield of 4.8%. The ex-dividend date is Tuesday, December 15th.

Crown Castle has a 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. 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 Price Performance

Shares of Crown Castle stock opened at $88.69 on Friday. The company’s 50 day moving average price is $77.12 and its two-hundred day moving average price is $82.27. The firm has a market capitalization of $37.73 billion, a P/E ratio of 19.30, a P/E/G ratio of 0.76 and a beta of 0.88. Crown Castle has a fifty-two week low of $65.32 and a fifty-two week high of $95.07.

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

About Crown Castle

Crown Castle Inc (NYSE: CCI) owns and operates wireless communications infrastructure in the United States. Its portfolio includes cell towers and small-cell networks that help wireless carriers expand coverage and capacity.

The company leases space on its infrastructure to wireless carriers and other customers, allowing multiple users to deploy communications equipment on shared sites. Crown Castle has also operated fiber infrastructure and related services, which support small-cell networks and other connectivity needs.

Founded in 1994, Crown Castle serves communities across the United States.