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Crown Castle’s AFFO In Excess of Cash Dividends Paid

publication date: Jul 18, 2024
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Image: Crown Castle’s shares look to be bottoming, and the firm’s AFFO is expected to remain well above cash dividends paid during 2024. 

Crown Castle reiterated its outlook for 2024 that it issued on June 11. It expects site rental billings of $5.74-$5.78 billion, site rental revenues in the range of $6.317-$6.362 billion, adjusted EBITDA between $4.143-$4.193 billion, and AFFO per share in the range of $6.91-$7.02. Though Crown Castle’s full year performance reveals pressure, the company’s AFFO remains in excess of its annual dividend rate of $6.26, and with a dividend yield of ~5.9%, we think it makes the cut for inclusion to the High Yield Dividend Newsletter portfolio.


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