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Crown Castle International Corp. (NYSE:CCI) hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company, Stock Ratings Network reports. The stock traded as high as $78.56 and last traded at $77.81, with a volume of 1,374,224 shares traded. The stock had previously closed at $77.43.

The newly announced dividend is scheduled for Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.81%.

CCI has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Crown Castle International Corp. in a research note on Friday, July 25th. They now have a $87.00 price target on the stock, up previously from $85.00. Separately, analysts at Pacific Crest downgraded shares of Crown Castle International Corp. from an “outperform” rating to a “sector perform” rating in a research note on Friday, July 25th. They now have a $102.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Crown Castle International Corp. in a research note on Friday, June 13th. They set a “neutral” rating and a $84.00 price target on the stock. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Crown Castle International Corp. currently has a consensus rating of “Buy” and a consensus price target of $87.89.

The stock’s 50-day moving average is $74.49 and its 200-day moving average is $74.40. The company has a market cap of $25.853 billion and a P/E ratio of 200.08.

Crown Castle International Corp. (NYSE:CCI) last announced its earnings results on Wednesday, July 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by $0.19. The company had revenue of $916.30 million for the quarter, compared to the consensus estimate of $873.26 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 24.7% on a year-over-year basis. Analysts expect that Crown Castle International Corp. will post $4.17 EPS for the current fiscal year.

Crown Castle International Corp. (NYSE:CCI) owns, operates and leases shared wireless infrastructure, including towers and other structures, such as rooftops (towers); distributed antenna systems (DAS, and interests in land under third party towers in various forms (third party land interests) (unless the context otherwise suggests or requires, references herein to wireless infrastructure include towers, DAS and third party land interests).

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