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Crown Castle Inc. (NYSE: CCI) is a leading provider of wireless infrastructure, offering a comprehensive portfolio of more than 40,000 cell towers, approximately 90,000 route miles of fiber, and small cell solutions across major U.S. markets. Since its inception in 1994, Crown Castle has been instrumental in supporting the infrastructure behind the world's most revolutionary technologies, enabling seamless data and wireless services that benefit communities and businesses nationwide.
Operating as a real estate investment trust (REIT), Crown Castle leases space on its towers to wireless service providers, helping them expand their networks and enhance connectivity. Its fiber assets are crucial for small-cell network infrastructure and enterprise connections, making it a vital player in the telecommunications industry. The company derives about 75% of its revenue from the top three U.S. mobile carriers, underscoring its significant market position and stable revenue stream.
Recently, Crown Castle has faced substantial challenges, including leadership changes and strategic scrutiny. In 2024, Ted B. Miller, co-founder and former CEO, alongside Boots Capital Management, initiated a proxy contest to elect new board members, citing dissatisfaction with the company's performance and strategy. Despite this, Crown Castle continues to focus on improving operational execution and exploring strategic options to maximize shareholder value.
Under the leadership of new CEO Steven Moskowitz, Crown Castle aims to enhance efficiency and unlock value from its assets. The company is actively engaging with multiple parties to explore potential transactions involving its fiber segment, while also striving to bolster its core towers business. Crown Castle remains committed to being a reliable partner for wireless carriers, businesses, and communities, ensuring that the transformative power of technology reaches those who rely on it most.
Crown Castle International Corp. (NYSE: CCI) announced that CEO Jay Brown will present at the Goldman Sachs Communacopia Virtual Conference on September 17, 2020, at 9:40 a.m. Eastern Time. The presentation will be streamed live on Crown Castle’s website, where it will be available for replay afterward. Crown Castle operates over 40,000 cell towers and approximately 80,000 route miles of fiber across major U.S. markets, providing vital communications infrastructure essential for data and wireless services.
HOUSTON, Aug. 28, 2020 (GLOBE NEWSWIRE) -- Crown Castle International Corp. (NYSE: CCI) has announced that Dan Schlanger, Executive Vice President and CFO, will present at the Bank of America Merrill Lynch 2020 Media, Communications & Entertainment Conference on September 9, 2020, at 10:45 a.m. ET. The presentation, expected to last about 40 minutes, will be available via live audio webcast on Crown Castle's website and archived for later access.
Crown Castle operates over 40,000 cell towers and 80,000 route miles of fiber, enhancing connectivity across major U.S. markets.
Crown Castle International Corp. (NYSE: CCI) announced the retirement of James D. Young, Executive Vice President and COO – Fiber, after over 14 years with the company. Young will assist during the transition to his successor until February 2021. CEO Jay Brown praised Young's contributions, highlighting his role in scaling the company and establishing its small cell and fiber solutions. Crown Castle operates over 40,000 cell towers and 80,000 route miles of fiber, positioning itself as a leader in U.S. communications infrastructure.
Crown Castle International Corp. (NYSE: CCI) has declared a quarterly cash dividend of $1.20 per common share, scheduled for payment on September 30, 2020. Stockholders must be on record by September 15, 2020 to receive the dividend. The dividend amount may be adjusted in future periods based on Board approval. Crown Castle operates over 40,000 cell towers and approximately 80,000 route miles of fiber across the U.S., providing crucial infrastructure for wireless services.
Crown Castle International Corp. (NYSE: CCI) has announced that its CFO, Dan Schlanger, will present at the Cowen and Company 6th Annual Virtual Communications Infrastructure Summit on August 11, 2020, at 9:20 a.m. ET. The presentation will be broadcast live and is expected to last around 40 minutes. Users can access the live webcast and the archived presentation on Crown Castle's website.
Crown Castle operates over 40,000 cell towers and approximately 80,000 route miles of fiber across the U.S., providing vital communication infrastructure.
Crown Castle International Corp. (NYSE: CCI) announced the mandatory conversion of its 6.875% Mandatory Convertible Preferred Stock on August 1, 2020. Each share of Preferred Stock will convert into 8.8043 shares of Common Stock. As of July 29, 2020, approximately 1.3 million shares of Preferred Stock were outstanding, alongside 419.7 million Common Stock shares. Post-conversion, Crown Castle expects around 431.3 million Common Stock shares in circulation. Dividends on Preferred Stock will cease on the conversion date, with the next dividend payment scheduled for August 3, 2020.
Crown Castle International Corp. reported Q2 2020 results, showing a 4% increase in site rental revenues to $1.319 billion and a 7% decrease in net income to $200 million, or $0.41 per share. The company maintained its 2020 outlook, projecting at least 7% growth in AFFO per share. Capital expenditures totaled $414 million, with substantial investments in fiber and tower infrastructure. Dividends rose by 7% per share to $1.20. Despite a $95 million loss related to debt retirement, Crown Castle expressed confidence in long-term growth fueled by 5G investments.
Crown Castle International Corp. (CCI) announced enhancements to its corporate governance, including a mandatory Board retirement policy and plans for Board refreshment. Effective immediately, non-employee directors aged 72 and above will not be renominated, impacting several current members. The company is also reviewing its executive compensation program to align it with shareholder interests. Chairman Martin emphasized that these governance enhancements support long-term shareholder value. The company will release its second quarter 2020 earnings shortly.
Crown Castle International Corp. (NYSE: CCI) is set to announce its second quarter 2020 results on July 29, 2020, after market close. An accompanying conference call is scheduled for July 30, 2020, at 10:30 a.m. Eastern time, accessible via phone or live online. A telephonic replay will be available until October 28, 2020. Crown Castle operates over 40,000 cell towers and 80,000 miles of fiber, providing critical infrastructure for wireless communications across the U.S. More details can be found on their website.
Crown Castle International Corp. (NYSE: CCI) issued a statement addressing Elliott Associates regarding its strategic direction. With over 25 years of experience, Crown Castle boasts a robust portfolio of towers and fiber networks essential for communications, aiming for significant growth in the U.S. market. The company has invested approximately $30 billion over the last decade to enhance its assets, expecting a long-term investment cycle driven by mobile data and 5G demand. Crown Castle aims to grow its dividend by 7% to 8% annually and has delivered impressive shareholder returns, including over $9 billion in dividends since 2014.
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