Crown Castle International said on February 7, 2023 that its board of directors declared a regular quarterly dividend of $1.56 per share ($6.26 annualized). Shareholders of record as of March 14, 2023 will receive the payment on March 31, 2023. Previously, the company paid $1.56 per share.
At the current share price of $143.42 / share, the stock’s dividend yield is 4.36%. Looking back five years and taking a sample every week, the average dividend yield has been 3.45%, the lowest has been 2.62%, and the highest has been 5.11%. The standard deviation of yields is 0.49 (n=236).
The current dividend yield is 1.86 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.
Analyst Price Forecast Suggests 10.00% Upside
As of February 8, 2023, the average one-year price target for Crown Castle International is $157.76. The forecasts range from a low of $133.32 to a high of $195.30. The average price target represents an increase of 10.00% from its latest reported closing price of $143.42.
The projected annual revenue for Crown Castle International is $7,280MM, an increase of 4.21%. The projected annual EPS is $3.82, a decrease of 1.29%.
What is the Fund Sentiment?
There are 2220 funds or institutions reporting positions in Crown Castle International. This is a decrease of 8 owner(s) or 0.36% in the last quarter. Average portfolio weight of all funds dedicated to CCI is 0.55%, a decrease of 5.98%. Total shares owned by institutions increased in the last three months by 1.69% to 467,352K shares. The put/call ratio of CCI is 0.57, indicating a bullish outlook.
What are large shareholders doing?
VGSIX – Vanguard Real Estate Index Fund Investor Shares holds 19,635K shares representing 4.53% ownership of the company. In it’s prior filing, the firm reported owning 19,822K shares, representing a decrease of 0.95%. The firm decreased its portfolio allocation in CCI by 12.01% over the last quarter.
Capital International Investors holds 18,288K shares representing 4.22% ownership of the company. In it’s prior filing, the firm reported owning 18,273K shares, representing an increase of 0.09%. The firm decreased its portfolio allocation in CCI by 7.85% over the last quarter.
Bank Of America holds 13,772K shares representing 3.18% ownership of the company. In it’s prior filing, the firm reported owning 13,694K shares, representing an increase of 0.57%. The firm decreased its portfolio allocation in CCI by 77.07% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 12,923K shares representing 2.98% ownership of the company. In it’s prior filing, the firm reported owning 12,754K shares, representing an increase of 1.31%. The firm decreased its portfolio allocation in CCI by 9.33% over the last quarter.
Capital Research Global Investors holds 12,804K shares representing 2.96% ownership of the company. In it’s prior filing, the firm reported owning 13,026K shares, representing a decrease of 1.73%. The firm decreased its portfolio allocation in CCI by 10.99% 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 article originally appeared on Fintel
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