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Crown Castle Inc. - CCI STOCK NEWS

Welcome to our dedicated page for Crown Castle news (Ticker: CCI), a resource for investors and traders seeking the latest updates and insights on Crown Castle stock.

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.

News

Crown Castle Reiterates Actions Underway to Enhance and Unlock Shareholder Value

Rhea-AI Summary
Crown Castle Inc. rejects Slate of Directors Nominated by Ted Miller for Election to the Board, focusing on CEO search and Fiber Review. The Company remains confident in its actions for long-term success and shareholder value creation. Recent initiatives include strategic and operating reviews, new independent directors, interim CEO appointment, and CEO search committee formation.
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Crown Castle Announces Tax Reporting Information for 2023 Distributions

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Crown Castle Inc. (CCI) has announced the year-end tax reporting information for its 2023 distributions. The company paid cash distributions to holders of Crown Castle Common Stock, with specific details of the nature of distributions for income tax purposes. Stockholders are advised to consult with their tax advisors for specific tax treatment.
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Crown Castle Reports Fourth Quarter 2023 and Full Year 2023 Results, Maintains Outlook for Full Year 2024

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Crown Castle Inc. reported its Q4 and full-year 2023 results, maintaining its 2024 outlook. The company saw a 4% growth in site rental revenues but a 17% decrease in net income. Adjusted EBITDA grew by 2%, and AFFO per share increased by 2% as well. The company issued $1.5 billion in senior unsecured notes in December 2023 and is conducting a strategic review of its fiber business and CEO search.
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Crown Castle Appoints Bradley Singer to its Board of Directors

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Crown Castle Inc. (CCI) appoints Bradley E. Singer, a seasoned financial and telecom industry expert, to its board of directors. Singer's extensive experience is expected to enhance shareholder value from Crown Castle's leading portfolio of communications infrastructure.
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Crown Castle Announces Fourth Quarter 2023 Earnings Conference Call Details

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Crown Castle Inc. (NYSE: CCI) plans to release its fourth quarter 2023 results on January 24, 2024, with a conference call scheduled for January 25, 2024. The live webcast and dial-in details are available on their website.
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Crown Castle Announces Comprehensive Fiber Review and Additions to the Board

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Crown Castle Inc. (NYSE: CCI) forms new committees to review fiber business, appoints new independent directors, and enters cooperation agreement with Elliott Investment Management.
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Crown Castle Announces CEO Transition

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Crown Castle Inc. (NYSE: CCI) announced the retirement of Jay Brown as President, CEO, and Director of the Company, effective January 16, 2024. Anthony Melone, a member of Crown Castle’s Board, will serve as interim CEO. The Board will conduct a search process to identify a permanent CEO. Mr. Melone has over three decades of experience in the telecommunications industry and has served in various leadership positions at Verizon Communications. P. Robert Bartolo, Chair of the Crown Castle Board, expressed gratitude for Jay Brown's contributions and unwavering commitment. He also expressed confidence in Mr. Melone's ability to serve as interim CEO. Mr. Brown expressed confidence in the company's future and its world-class team.
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Elliott Sends Letter to the Board of Crown Castle Inc. Summarizing Feedback Supportive of Change

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Elliott Investment Management L.P. sent a letter to Crown Castle Inc. summarizing the feedback received since publicly sharing its views on the Company. The feedback, which was overwhelmingly supportive of change at Crown Castle, came from investors, analysts, current and former employees, and industry experts. The letter noted that Crown Castle's stock price appreciated by 14.5% in the week following the release of its materials, and the Company outperformed its direct peers by 8.4% – the largest week of outperformance for Crown Castle in the last decade.
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Crown Castle Announces Pricing of Senior Notes Offering

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Crown Castle Inc. (NYSE: CCI) has priced its public offering of 5.600% Senior Notes due 2029 and 5.800% Senior Notes due 2034, with aggregate principal amounts of $750 million each. The net proceeds are expected to be approximately $1.480 billion, which will be used to repay a portion of the outstanding indebtedness under its commercial paper program and pay related fees and expenses.
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Crown Castle Announces Proposed Offering of Senior Notes

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Crown Castle Inc. (NYSE: CCI) is commencing a public offering of senior notes to repay a portion of its outstanding indebtedness under its commercial paper program and pay related fees and expenses.
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FAQ

What is the current stock price of Crown Castle (CCI)?

The current stock price of Crown Castle (CCI) is $90.66 as of December 20, 2024.

What is the market cap of Crown Castle (CCI)?

The market cap of Crown Castle (CCI) is approximately 39.8B.

What does Crown Castle Inc. do?

Crown Castle Inc. provides wireless infrastructure, including cell towers, fiber, and small cell solutions, enabling wireless service providers to expand their networks.

How does Crown Castle generate revenue?

Crown Castle generates revenue by leasing space on its cell towers and fiber networks to wireless service providers and enterprises.

Who are Crown Castle's main customers?

Approximately 75% of Crown Castle's revenue comes from the top three U.S. mobile carriers.

What recent challenges has Crown Castle faced?

Crown Castle has faced leadership changes and strategic scrutiny, including a proxy contest initiated by co-founder Ted B. Miller and Boots Capital Management.

Who is the current CEO of Crown Castle?

As of 2024, Steven Moskowitz is the CEO of Crown Castle, focusing on improving operational execution and maximizing shareholder value.

What is Crown Castle's strategic focus under the new leadership?

Crown Castle is focused on enhancing efficiency, exploring strategic options for its fiber segment, and strengthening its core towers business.

How extensive is Crown Castle's fiber network?

Crown Castle owns approximately 90,000 route miles of fiber, primarily used for small-cell networks and enterprise connections.

What is the significance of Crown Castle's small cell solutions?

Small cell solutions are crucial for dense urban environments, providing enhanced network capacity and coverage.

How does Crown Castle support local communities?

Crown Castle supports local communities by providing essential wireless infrastructure, enabling access to critical data, technology, and services.

What is Crown Castle's market position?

Crown Castle is a leading player in the U.S. wireless infrastructure market, with a significant presence in major cities and a stable revenue stream from top mobile carriers.

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Crown Castle Inc.

NYSE:CCI

CCI Rankings

#319 Ranked by Market Cap
#392 Ranked by Dividends

CCI Stock Data

39.79B
433.74M
0.12%
95.33%
1.54%
REIT - Specialty
Real Estate Investment Trusts
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