New Agreement Reflects Crown Castle Acknowledgement That Elliott Cooperation Agreement Process was Tainted and is Unlawful Elliott Still Not Required to Retain Equity Ownership in Company, Which Continues to Misalign Incentives with Long-Term Interests of Company and Shareholders Miller Will Continue to Pursue Delaware Litigation Calls on Shareholders To Demand Crown Castle Board Add Four Highly Qualified Nominees HOUSTON, March 4, 2024 /PRNewswire/ -- Ted B. Miller, co-founder of Crown Castle Inc. (NYSE: C ...

Crown Castle (CCI) closed at $109.94 in the latest trading session, marking a +1.26% move from the prior day. This change outpaced the S&P 500's 0.52% gain on the day. Meanwhile, the Dow gained 0.12%, and the Nasdaq, a tech-heavy index, added 0.9%.The operator of wireless communications towers's stock has climbed by 0.3% in the past month, falling short of the Finance sector's gain of 2.95% and the S&P 500's gain of 3.85%.Investors will be eagerly watching for the performance of Crown Castle in its upcoming ...

It has been about a month since the last earnings report for Crown Castle (CCI) . Shares have lost about 2.6% in that time frame, underperforming the S&P 500.Will the recent negative trend continue leading up to its next earnings release, or is Crown Castle due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important catalysts. Crown Castle's Q4 AFFO and Revenues Beat Es ...

In the latest trading session, Crown Castle (CCI) closed at $107.97, marking a +0.26% move from the previous day. The stock's change was less than the S&P 500's daily gain of 2.11%. Meanwhile, the Dow experienced a rise of 1.18%, and the technology-dominated Nasdaq saw an increase of 2.96%.Shares of the operator of wireless communications towers have appreciated by 2.02% over the course of the past month, underperforming the Finance sector's gain of 3.61% and the S&P 500's gain of 3.08%.Investors will be ea ...

Debt and Interest Rates - Approximately 8% of the company's outstanding indebtedness consists of variable interest rates, with a weighted average rate of 6.3% as of February 20, 2024, compared to 5.4% and 1.1% as of December 31, 2022 and 2021, respectively[231] - Approximately 51% of the company's fixed rate debt, with a weighted average interest rate of 3.6%, is scheduled to mature over the next five years[241] Credit Facility and Liquidity - The company has a $7.0 billion senior unsecured revolving credit facility with $7.0 billion of undrawn availability as of February 20, 2024[234] Dividends and Shareholder Returns - The company paid a common stock dividend of $1.565 per share in each quarter of 2023, totaling approximately $2.7 billion, representing a 4.7% increase from 2022[252] - The company expects common stock dividends over the next 12 months to be a cumulative amount of at least $6.26 per share, or an aggregate amount of approximately $2.7 billion[252] Stock Issuance and Ownership - The company has $750 million of gross sales of common stock remaining under its 2021 ATM Program as of February 20, 2024[243] - The company has approximately 434 million shares of common stock outstanding as of February 20, 2024[243] - The company has reserved approximately 15 million shares of common stock for issuance in connection with awards granted under its stock compensation plans[236] - The company's Charter prohibits any person from owning more than 9.8% of the outstanding shares of common stock or 9.8% in aggregate value of all classes and series of capital stock[270] - Ownership limitations and transfer restrictions could delay, defer, or prevent a transaction or change in control of the company[270] Legal and Financial Obligations - The company's subsidiaries are legally distinct from the holding company and have no obligation to pay amounts due on their debt unless they guarantee such debt[232] - The company's ability to comply with financial maintenance covenants or satisfy debt obligations will depend on future operating performance[239] REIT Compliance and Requirements - Compliance with REIT requirements may hinder the company's ability to grow and increase financing needs for capital expenditures, future growth, or expansion initiatives[267] - The company must distribute at least 90% of its taxable income to satisfy REIT dividend requirements and avoid corporate income tax and a 4% excise tax[268] - The company is required to continually satisfy tests concerning income sources, asset diversification, and capital stock ownership to remain qualified as a REIT[268] - Failure to comply with REIT asset ownership tests may require the company to liquidate assets in adverse market conditions or forgo attractive investments[269] - The company's capital stock must be beneficially owned by 100 or more persons during at least 335 days of a taxable year to maintain REIT qualification[270] - No more than 50% of the value of the company's outstanding capital stock can be owned by five or fewer individuals during the last half of a taxable year[270] Corporate Governance and Compliance - The company submitted the CEO certification required by Section 303A.12(a) of the NYSE Listed Company Manual on May 25, 2023, with no qualifications[271] - The company included the certifications of its CEO and CFO required by Section 302 of the Sarbanes-Oxley Act of 2002 in its 2023 Form 10-K[271]

HOUSTON, Feb. 21, 2024 (GLOBE NEWSWIRE) -- Crown Castle Inc. (NYSE:CCI) ("Crown Castle") announced today that its Board of Directors has declared a quarterly cash dividend of $1.565 per common share. The quarterly dividend is payable on March 28, 2024 to common stockholders of record at the close of business on March 15, 2024. Future dividends are subject to the approval of Crown Castle's Board of Directors. ABOUT CROWN CASTLE Crown Castle owns, operates and leases more than 40,000 cell towers and approxima ...

A co-founder of telecommunications company Crown Castle has nominated a rival slate of directors to the firm's board, muddying the waters months after activist investor Elliott Management and Crown Castle signed a cooperation agreement.Ted Miller, who helped launch the company in 1994, along with his investment vehicle Boots Capital presented his thesis to investors in a release Tuesday, urging the company to sell its fiber business and improve operational efficiency.The slate of four directors he's nominat ...

Miller and Nominees Are Committed To Restoring Urgency, Operational Excellence and Shareholder Confidence in Crown CastleMiller and Nominees Bring a Detailed Plan for Optimizing Crown Castle's Fiber Assets, and Materially Improving Operations, Go-To-Market Strategy and Customer InnovationStrategic Plan Financial Targets:AFFO After Discretionary Capex of $2.2 Billion by 2025Drive EBITDA Margin Per Tower From 70% Toward 75-80%, In Line With Crown Castle's Peers American Tower and SBAA Highly Sustainable Divid ...

Feverpitched Over the past year, we wrote many articles highlighting the opportunity that's present in the REIT sector today. In short, their valuations are near the lowest in a decade because their share prices have crashed even as their cash flows kept on growing, and as a result, most REITs are now very opportunistic from a historical perspective. Data by YCharts But note that I said "most" REITs", not "all" REITs. This is a vast and versatile sector with over 200 companies in the US, and just because th ...

5G cellular communications tower over building in city Kanok Sulaiman/Moment via Getty Images “Restoring the Castle” was the title of a 50-page presentation activist investor, Elliott Investment Management L.P., sent to communication infrastructure REIT Crown Castle (NYSE:CCI) last November. The reference to 'restoration' is understandable given the REIT's 50% price decline from its peak in December of 2021. A week after the presentation was made public, Crown Castle's stock price had appreciated 14.5%. C ...