Crown Castle (CCI) Declares $1.56 Dividend

Crown Castle said on May 1, 2023 that its board of directors declared a regular quarterly dividend of $1.56 per share ($6.26 annualized). Previously, the company paid $1.56 per share.

Shares must be purchased before the ex-div date of June 14, 2023 to qualify for the dividend. Shareholders of record as of June 15, 2023 will receive the payment on June 30, 2023.

At the current share price of $122.04 / share, the stock's dividend yield is 5.13%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.49%, the lowest has been 2.62%, and the highest has been 5.13%. The standard deviation of yields is 0.56 (n=236).

The current dividend yield is 2.91 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.62. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.30%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 2229 funds or institutions reporting positions in Crown Castle. This is an increase of 14 owner(s) or 0.63% in the last quarter. Average portfolio weight of all funds dedicated to CCI is 0.60%, an increase of 8.06%. Total shares owned by institutions decreased in the last three months by 1.31% to 459,179K shares. The put/call ratio of CCI is 0.71, indicating a bullish outlook.

Analyst Price Forecast Suggests 26.59% Upside

As of April 24, 2023, the average one-year price target for Crown Castle is 154.50. The forecasts range from a low of 136.35 to a high of $170.10. The average price target represents an increase of 26.59% from its latest reported closing price of 122.04.

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The projected annual revenue for Crown Castle is 7,280MM, an increase of 3.75%. The projected annual non-GAAP EPS is 3.82.

What are Other Shareholders Doing?

VGSIX - Vanguard Real Estate Index Fund Investor Shares holds 19,312K shares representing 4.45% ownership of the company. In it's prior filing, the firm reported owning 19,635K shares, representing a decrease of 1.67%. The firm increased its portfolio allocation in CCI by 0.13% over the last quarter.

Capital International Investors holds 17,838K shares representing 4.11% ownership of the company. In it's prior filing, the firm reported owning 18,288K shares, representing a decrease of 2.52%. The firm decreased its portfolio allocation in CCI by 15.73% over the last quarter.

Bank Of America holds 14,280K shares representing 3.29% ownership of the company. In it's prior filing, the firm reported owning 13,772K shares, representing an increase of 3.56%. The firm decreased its portfolio allocation in CCI by 99.91% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 13,166K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 12,923K shares, representing an increase of 1.84%. The firm decreased its portfolio allocation in CCI by 11.72% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 10,011K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 9,817K shares, representing an increase of 1.94%. The firm decreased its portfolio allocation in CCI by 11.84% over the last quarter.

Crown Castle Background Information
(This description is provided by the company.)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

This story originally appeared on Fintel.