Crown Castle Inc. (CCI) To Go Ex-Dividend on March 14th

Crown Castle Inc. (NYSE:CCI) announced a quarterly dividend on Wednesday, February 26th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 1.565 per share by the real estate investment trust on Monday, March 31st. This represents a $6.26 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date is Friday, March 14th.

Crown Castle has raised its dividend payment by an average of 4.7% annually over the last three years. Crown Castle has a payout ratio of 222.0% meaning 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 $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

Shares of CCI stock opened at $93.58 on Friday. The firm has a market cap of $40.67 billion, a P/E ratio of 33.18 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a fifty day moving average of $89.69 and a two-hundred day moving average of $102.55.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CCI shares. Citigroup reduced their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Scotiabank cut their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. JMP Securities assumed coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.