Crown Castle International Corp. (NYSE:CCI) declared a quarterly dividend on Thursday, May 17th, RTT News reports. Investors of record on Friday, June 15th will be paid a dividend of 1.05 per share by the real estate investment trust on Friday, June 29th. This represents a $4.20 annualized dividend and a yield of 4.12%.

Crown Castle International has increased its dividend payment by an average of 27.8% annually over the last three years and has raised its dividend every year for the last 3 years. Crown Castle International has a payout ratio of 95.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Crown Castle International to earn $5.74 per share next year, which means the company should continue to be able to cover its $4.20 annual dividend with an expected future payout ratio of 73.2%.

Shares of Crown Castle International opened at $101.91 on Friday, according to MarketBeat.com. Crown Castle International has a 12-month low of $102.90 and a 12-month high of $103.38. The firm has a market cap of $42.72 billion, a P/E ratio of 20.76, a PEG ratio of 1.26 and a beta of 0.29. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 1.22.

Crown Castle International (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 18th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.98). Crown Castle International had a return on equity of 4.06% and a net margin of 8.87%. The firm had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business earned $1.11 earnings per share. The business’s revenue for the quarter was up 27.9% compared to the same quarter last year. analysts predict that Crown Castle International will post 5.26 EPS for the current fiscal year.

Several equities analysts recently issued reports on CCI shares. Zacks Investment Research upgraded Crown Castle International from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, March 27th. Goldman Sachs cut Crown Castle International from a “conviction-buy” rating to a “buy” rating in a research note on Tuesday, March 13th. ValuEngine cut Crown Castle International from a “buy” rating to a “hold” rating in a research note on Thursday, April 12th. Barclays raised their target price on Crown Castle International from $107.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 17th. Finally, Guggenheim reiterated a “buy” rating and issued a $115.00 target price on shares of Crown Castle International in a research note on Friday, January 26th. Nine investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $114.75.

In related news, Director Anthony J. Melone bought 1,979 shares of the business’s stock in a transaction on Friday, April 27th. The shares were bought at an average cost of $101.06 per share, for a total transaction of $199,997.74. Following the completion of the purchase, the director now owns 10,547 shares of the company’s stock, valued at approximately $1,065,879.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kenneth Jay Simon sold 693 shares of Crown Castle International stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $108.79, for a total transaction of $75,391.47. Following the sale, the senior vice president now owns 14,869 shares in the company, valued at $1,617,598.51. The disclosure for this sale can be found here. Company insiders own 0.36% of the company’s stock.

About Crown Castle International

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 60,000 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.

Dividend History for Crown Castle International (NYSE:CCI)

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