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Crown Castle: Quality Assets Offering The Highest Yield Among Peers

Mar. 23, 2023 6:47 AM ETCrown Castle Inc. (CCI)AMT, SBAC13 Comments
George Atuan, CFA profile picture
George Atuan, CFA


  • I expect Crown Castle to have the fastest AFFO expansion in 2023 among its peers, with a projected growth rate of 3.7%, driven by revenue growth and margin expansion.
  • The growth of 5G technology provides significant opportunities for CCI to capitalize on, given its diverse and comprehensive infrastructure offerings, including towers, small cells, and fiber assets.
  • Historically, CCI yield demanded a premium over AMT and SBAC, but the premium has widened recently. The current dividend yield is 4.7%.
  • CCI shares have a potential upside of 14% to 32%, with a price target range of $145 to $168 per share.

Small cell antenna installation on a lamp post is in progress. Protective antenna shroud removed, parts are visible

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Crown Castle (NYSE:CCI) is a major wireless communication infrastructure provider with an extensive network of communication towers, fiber assets, and small-cell solutions. Its diversified infrastructure offerings make it favorable to benefit from the increasing demand for wireless

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CCI and peers AFFO

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This article was written by

George Atuan, CFA profile picture
"Price is what you pay, value is what you get"If you like my investment approach, consider purchasing my stock investing book: https://www.amazon.com/dp/B0C15JXW5QHere is my advice:1. Save 10% of whatever you make, no matter how insignificant it can be. As a young engineer, I saved 10% of my income no matter if it was $10 or $1,000. PAYING YOURSELF is the best piece of advice you can give anyone. I recommend the book 'The Richest Man in Babylon', it is a bit repetitive but entertaining and gets the point across.2. Invest in your competitive advantage. If you are an oil veteran, you should be investing in E&P companies and not in biotech start-ups. If you want to diversify, pay someone to give you advice on other sectors or buy ETFs with the right exposure. As for me, I graduated very young and worked in transportation and consumers as an engineer. Post-MBA I worked for one of the largest hedge funds covering sectors such as natural resources (including oil & gas), TMT, consumers, industrials and transportation. After that, I was a finance executive for Fortune 500 companies leaders in the consumers and TMT sectors. So you will never see me investing in financials, education or healthcare. I get exposure to those sectors via ETFs and professionals I trust.3. Don't trade but rather invest. Once I left the hedge fund world, I started an asset management firm for family, friends and HNWI. I was able to manage this fund while having extremely demanding roles by investing in the long term. When I buy a company, I just sell if my investment thesis is not valid anymore. Thus, I would just dedicate my Saturdays to reviewing my portfolio and exploring new opportunities. 4. Do what you love, not what makes the most money. You may leave money on the table in short term, but you will be happier in the long term even if you make less money overall.In my spare time, I like reading, rowing and enjoying life.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of T, CCI, VZ either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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