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Crown Castle Inc. (CCI) Stock

Crown Castle Inc. Stock Details, Movements and Public Alerts

Crown Castle (CCI): The $50B Cell Tower REIT With 40,000 Towers and 6.2% Dividend Yield

Steven Moskowitz, CEO since 2024, leads America's largest independent cell tower operator. Crown Castle owns the physical infrastructure that makes your iPhone work: steel towers 150-300 feet tall leasing space to wireless carriers who mount antennas, plus fiber optic cables connecting towers to core networks. The business model is beautifully simple: build or acquire a tower for $200-500K, lease antenna space to Verizon/AT&T/T-Mobile for $40-60K annually per tenant (three tenants typical = $120-180K/tower), earn 70%+ margins because maintenance costs are minimal. With 40,000 towers and 120,000 miles of fiber, Crown Castle generates $7 billion in predictable revenue from 15-20 year contracts with wireless carriers. As a REIT, Crown Castle pays out 90%+ of taxable income as dividends—currently yielding 6.2%. However, the stock has fallen 40% from 2021 peaks as interest rate increases reduce REIT valuations and 5G buildout slows. Trading at 16x FFO, Crown Castle offers telecom infrastructure exposure with defensive characteristics for income portfolios willing to tolerate rate sensitivity.

52-Week Range

$114.47 - $81.02

-19.04% from high · +14.39% from low

Avg Daily Volume

16,573

Latest volume

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

N/A

Forward P/E

26.32

PEG Ratio

1.32

Reasonably valued

Price to Book

8.86

EV/EBITDA

20.71

EPS (TTM)

-$9.08

Price to Sales

6.50

Beta

0.94

Less volatile than market

How is CCI valued relative to its earnings and growth?
Valuation data is not available for this stock.
What is CCI's risk profile compared to the market?
With a beta of 0.94, Crown Castle Inc. is less volatile than the overall market. This means when the market moves up or down by 10%, this stock typically moves less than 10% in the same direction. Lower beta stocks are often preferred by conservative investors seeking stability. The price-to-book ratio of 8.86 shows investors value the company above its book value, which often reflects intangible assets or growth prospects.

Performance & Growth

Profit Margin

-71.70%

Operating Margin

47.90%

EBITDA

$3.93B

Return on Equity

-183.30%

Return on Assets

4.03%

Revenue Growth (YoY)

-4.20%

Earnings Growth (YoY)

15.90%

How profitable and efficient is CCI's business model?
Crown Castle Inc. achieves a profit margin of -71.70%, meaning it retains $-71.70 from every $100 in revenue after all expenses. This relatively low margin suggests the company operates in a competitive environment or high-cost industry where profitability is challenging. The operating margin of 47.90% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at -183.30% and ROA at 4.03%, the company achieves moderate returns on invested capital.
What are CCI's recent growth trends?
Crown Castle Inc.'s revenue declined by 4.20% year-over-year, indicating challenges in maintaining sales momentum. This contraction may reflect market headwinds, competitive pressures, or strategic transitions. Earnings increased by 15.90% year-over-year, outpacing revenue growth through improved margins. These growth metrics should be evaluated against REIT - SPECIALTY industry averages for proper context.

Dividend Information

Dividend Per Share

$5.76

Dividend Yield

5.99%

Ex-Dividend Date

Sep 15, 2025

Dividend Date

Sep 30, 2025

What dividend income can investors expect from CCI?
Crown Castle Inc. offers a dividend yield of 5.99%, paying $5.76 per share annually. This high yield exceeds 4%, significantly outperforming the S&P 500 average of 1.5-2% and most investment-grade bonds. For income-focused investors, this represents an attractive cash flow opportunity, though high yields sometimes signal market concerns about sustainability. To receive the next dividend, shares must be purchased before the ex-dividend date of Sep 15, 2025.
How reliable is CCI's dividend for long-term investors?
The dividend sustainability can be assessed through the payout ratio - Crown Castle Inc. pays $5.76 per share in dividends against earnings of -$9.08 per share, resulting in a payout ratio of -63.44%. This conservative payout below 30% indicates excellent dividend safety with substantial room for future increases. The company retains most earnings for growth while still rewarding shareholders. The next dividend payment is scheduled for Sep 30, 2025.

Company Size & Market

Market Cap

$42.0B

Revenue (TTM)

$6.47B

Revenue/Share (TTM)

$14.89

Shares Outstanding

435.47M

Book Value/Share

-$3.18

Asset Type

Common Stock

What is CCI's market capitalization and position?
Crown Castle Inc. has a market capitalization of $42.0B, classifying it as a large-cap stock ($10B-$200B). Large-caps are typically industry leaders with established business models, offering a balance of stability and growth potential. They often provide dividend income and are core holdings in institutional portfolios. With 435.47M shares outstanding, the company's ownership is relatively concentrated. As a participant in the REIT - SPECIALTY industry, it competes with other firms in this sector.
How does CCI's price compare to its book value?
Crown Castle Inc.'s book value per share is -$3.18, while the current stock price is $92.68, resulting in a price-to-book (P/B) ratio of -29.17. Trading below book value can indicate the market perceives challenges ahead, or it might represent a value opportunity if the assets are quality and earnings can recover. Value investors often screen for P/B ratios below 1.0. As a common stock, this represents equity ownership with voting rights.

Analyst Ratings

Analyst Target Price

$118.32

27.67% upside potential

Analyst Recommendations

Strong Buy

3

Buy

8

Hold

9

Sell

0

Strong Sell

0

How reliable are analyst predictions for CCI?
20 analysts cover CCI with 55% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The mixed views reflect uncertainty about the outlook. The consensus target of $118.32 implies 27.7% upside, but targets are often adjusted to follow price moves rather than predict them.
What is the Wall Street consensus on CCI?
Current analyst recommendations:3 Strong Buy, 8 Buy, 9 Hold, 00The bullish tilt suggests optimism about future prospects, though investors should conduct independent research.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Oct 1, 2025, 06:10 AM

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Crown Castle (CCI) Stock Analysis 2025: Complete Investment Guide

The Infrastructure Landlord of Wireless Networks

Crown Castle was founded in 1994 to consolidate fragmented cell tower ownership. Steven Moskowitz, who became CEO in early 2024 after serving as CFO, inherited a company generating $7 billion leasing towers and fiber to wireless carriers. The economics are toll-road-like: Crown Castle invested $30+ billion over 30 years building towers and acquiring fiber networks, then leases capacity generating predictable cash flows. A typical tower costs $300K to build, supports 3-4 wireless tenants paying $50K each annually, and requires just $5-10K in annual maintenance—generating $140K revenue at 95% gross margins. With 40,000 towers averaging 2.5 tenants each, Crown Castle earns $5 billion annually from towers alone. The 2020 acquisition of Lightpath fiber (120,000 route miles) added $2 billion in revenue connecting towers to carrier core networks and providing enterprise connectivity. REIT status mandates distributing 90%+ of taxable income as dividends, resulting in the current 6.2% yield—attractive for income investors but creating capital allocation constraints.

Business Model & Competitive Moat

Crown Castle's moat is site scarcity and regulatory barriers. Building new towers requires zoning approvals taking 12-24 months, environmental reviews, and NIMBY opposition—creating 3-5 year timelines competitors can't shortcut. Existing towers enjoy quasi-monopoly positions: carriers prefer co-locating on existing structures versus building new ones (faster, cheaper), giving Crown Castle pricing power when leases renew. Long-term contracts (15-20 years with 2-3% annual escalators) create revenue visibility—85% of 2030 revenue is already contracted today. The weak point: carrier consolidation reduces tenant count (T-Mobile/Sprint merger eliminated redundant sites), and 5G buildout shifting from macro towers to small cells (street-level equipment Crown Castle also owns, but lower revenue/unit). Competitors include American Tower (global focus), SBA Communications (smaller U.S. portfolio), and private tower companies. Moskowitz's strategy emphasizes fiber densification and small cell deployment to capture 5G network architecture shifts, but returns are lower than legacy tower investments.

Financial Performance

  • •Revenue: $7B (2024), up 3% driven by lease escalators and new small cells
  • •Adjusted EBITDA Margin: 70%, reflecting infrastructure business economics
  • •Funds From Operations (FFO): $3B, AFFO/share of $7.50 (16x AFFO multiple)
  • •Dividend: $6.08 annually, 6.2% yield (payout ratio 80% of AFFO)
  • •Net Debt: $30B (high leverage at 5.5x EBITDA typical for tower REITs)
  • •Credit Rating: BBB (investment-grade, but watch for downgrades)

Growth Catalysts

  • •5G Densification: Mid-band 5G requires 3-5x more cell sites; small cell deployments accelerating
  • •Lease Escalators: 2-3% annual rent increases embedded in contracts add $150M+ annually
  • •Fiber-to-the-Tower: Connecting towers with fiber creates $500M+ annual revenue opportunity
  • •Private Networks: Enterprises building dedicated 5G networks (manufacturing, hospitals) leasing infrastructure
  • •Edge Computing: Data centers at cell tower bases hosting cloud/AI workloads (early stage)
  • •M&A Opportunities: Acquiring smaller tower portfolios at 15-18x EBITDA accretive to FFO

Risks & Challenges

  • •Interest Rate Sensitivity: $30B debt at 4-5% rates; refinancing risk if rates stay elevated
  • •Carrier Consolidation: Further mergers (Dish/T-Mobile?) could eliminate tenants, reducing revenue 10-15%
  • •5G Buildout Slowdown: Carriers pausing spending after $150B+ 5G investments 2020-2024
  • •Technology Disruption: Satellite internet (Starlink) or mesh networks reducing tower dependency
  • •Dividend Sustainability: 80% AFFO payout leaves little cushion; cuts possible if growth stalls
  • •Leverage Concerns: 5.5x debt/EBITDA creates refinancing risk; credit rating downgrades would hurt

Competitive Landscape

Tower REITU.S. TowersGlobal TowersDividend Yield
Crown Castle (CCI)40,00040,0006.2%
American Tower (AMT)42,000225,0003.1%
SBA Communications (SBAC)38,00039,0000.9%
VICI PropertiesN/A (casinos)N/A5.5%

Crown Castle focuses exclusively on U.S. infrastructure, offering domestic exposure without emerging market risks American Tower carries. The high dividend yield reflects market concerns about growth sustainability and leverage, while American Tower's global diversification commands premium valuations despite lower yield.

Who Is This Stock Suitable For?

Perfect For

  • ✓Income investors seeking 6%+ yields with telecom infrastructure exposure
  • ✓REIT allocations (diversification beyond traditional REITs like apartments/retail)
  • ✓Inflation hedges (lease escalators provide 2-3% annual income growth)
  • ✓Defensive infrastructure plays (wireless essential regardless of economy)

Less Suitable For

  • ✗Growth investors (3-5% revenue growth vs. 15%+ for tech)
  • ✗Conservative investors uncomfortable with 5.5x leverage
  • ✗Rate-sensitive portfolios (REIT valuations compress when rates rise)
  • ✗Short-term traders (high volatility with rate movements)

Investment Thesis

Crown Castle offers 6.2% dividend yield backed by infrastructure assets with 15-20 year contracted revenue. At 16x AFFO, valuation reflects market concerns: high leverage (5.5x debt/EBITDA), slowing 5G buildout, and dividend sustainability questions. However, fundamentals remain solid: 95%+ lease renewals, 2-3% annual escalators, and structural wireless data growth (+25% annually) requiring continued network investments. The investment case: wireless carriers must densify networks to handle exploding data demand, requiring more cell sites and fiber—Crown Castle's core assets. Risks are real—interest rates staying elevated stress the balance sheet, and carrier spending cuts could pressure growth. But for income investors willing to tolerate volatility and leverage risk, Crown Castle offers 8-10% annual total returns (6.2% yield + 2-4% dividend growth + modest capital appreciation). This is a core REIT holding for income portfolios, sized at 3-5% with recognition that dividend cuts are possible if growth disappoints. Recommended: accumulate below $90 for 7%+ yields, trim above $120.

Conclusion

Crown Castle is a high-yield REIT suitable for 3-5% allocations in income-focused portfolios. The stock merits a BUY for income investors below $90 (7%+ yield), HOLD at current levels for existing holders, and SELL above $130 (5% yield) to rebalance. Recommended strategy: dollar-cost average positions during market volatility, reinvest dividends cautiously (watching payout ratio), hold for 5-10 years capturing infrastructure value. This is a 'sleep well at night' infrastructure play offering 8-10% total returns for investors comfortable with REITvolatility, leverage, and telecom industry dynamics.
Bull Case
$135 (35% upside) - 5G densification accelerates, debt refinanced favorably, dividend grows 5% annually
Base Case
$105 (5% upside) - Steady growth, dividend maintained, gradual deleveraging
Bear Case
$75 (25% downside) - Carrier spending cuts, dividend reduced 20%, refinancing pressure from rates

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