Crown Castle International Corporation (NYSE:CCI) announced a quarterly dividend on Wednesday, October 18th, RTT News reports. Shareholders of record on Friday, December 15th will be paid a dividend of 1.05 per share by the real estate investment trust on Friday, December 29th. This represents a $4.20 annualized dividend and a yield of 4.16%. This is a positive change from Crown Castle International Corporation’s previous quarterly dividend of $0.95.

Crown Castle International Corporation has a payout ratio of 83.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Crown Castle International Corporation to earn $1.30 per share next year, which means the company may not be able to cover its $3.80 annual dividend with an expected future payout ratio of 292.3%.

Shares of Crown Castle International Corporation (CCI) traded down 0.41% during mid-day trading on Wednesday, reaching $100.96. The company’s stock had a trading volume of 2,989,455 shares. The firm has a market cap of $41.02 billion, a PE ratio of 80.57 and a beta of 0.16. Crown Castle International Corporation has a one year low of $79.38 and a one year high of $108.88. The firm’s 50 day moving average is $103.48 and its 200 day moving average is $100.27.

Crown Castle International Corporation (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 18th. The real estate investment trust reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.73. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.07 billion. Crown Castle International Corporation had a return on equity of 6.21% and a net margin of 11.14%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.09 earnings per share. On average, equities analysts anticipate that Crown Castle International Corporation will post $1.11 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on CCI shares. Bank of America Corporation upped their price target on Crown Castle International Corporation from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $107.00 price target on shares of Crown Castle International Corporation in a research report on Tuesday, August 29th. Macquarie reaffirmed a “buy” rating and set a $107.00 price target on shares of Crown Castle International Corporation in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Crown Castle International Corporation in a research report on Monday, July 10th. Finally, BidaskClub raised Crown Castle International Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $107.50.

In other news, Director J Landis Martin bought 30,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were purchased at an average cost of $100.64 per share, with a total value of $3,019,200.00. Following the transaction, the director now directly owns 99,335 shares in the company, valued at $9,997,074.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

WARNING: This story was first posted by Daily Political and is the property of of Daily Political. If you are accessing this story on another publication, it was copied illegally and reposted in violation of international copyright laws. The legal version of this story can be viewed at https://www.dailypolitical.com/2017/10/18/crown-castle-international-corporation-cci-raises-dividend-to-1-05-per-share.html.

About Crown Castle International Corporation

Castle International Corp. (CCIC) is a real estate investment trust (REIT) company. The Company owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers), and to a lesser extent, distributed antenna systems (DAS), a type of small cell network (small cells), and interests in land under third party towers in various forms (third party land interests).

Dividend History for Crown Castle International Corporation (NYSE:CCI)

Receive News & Ratings for Crown Castle International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle International Corporation and related companies with MarketBeat.com's FREE daily email newsletter.