How Crown Castle Rewards Shareholders
In 4Q17, Crown Castle (CCI) announced a dividend of $0.95 per share, bringing its 2017 dividend to $3.89, compared with $3.60 in 2016. It paid a dividend of $3.34 in 2015. Its…
As of January 2018, 21 of the 22 analysts covering American Tower stock have given it a “buy” or “strong buy” rating. The remaining analyst gave it a “hold” rating.
During 3Q17, American Tower (AMT) strengthened its revenues on higher organic growth in domestic and international markets such as India and Mexico.
Mexico is one of American Tower’s (AMT) vital international markets. AMT has entered into an agreement to acquire certain telecommunication assets in Mexico.
EQR reported higher revenues backed by strong growth in rental income.
Since REITs are required to pay 90% of their income as dividends, the tax cuts might reduce their advantage in comparison to other corporations.
EQR announced a quarterly dividend of $0.50. The current dividend yield stands at 3.2%, and it has a payout ratio of 135.2% for 3Q17.
Revenue in 3Q17 increased by ~3% backed by strong growth in rental income, while its expenses grew by ~2.4%. Real estate taxes formed ~41% of the total expenses while on-site payroll formed ~22.5%.
Equity Residential (EQR) has properties in Southern California, San Francisco, New York, Washington DC, Boston, and Seattle.
Analysts gave EQR a mean price target of $69.08, implying a ~8.3% rise from its current level of $63.77.
EQR has a price-to-FFO multiple of 20.23x.
Equity Residential (EQR) reported funds from operation (or FFO) per share of $0.81 in 3Q17 compared to $0.77 in 3Q16.
Analysts gave SPG a mean price target of $188.10, implying an ~16.0% rise from its current level of $162.26.
A higher price-to-FFO multiple for Simon Property means that it has the capacity to give a predictable return as well as consistent dividend yields to investors.
During 2016, SPG repurchased 1,409,197 shares at an average price of $181.14 per share.
As of 3Q17, Simon Property Group had liquidity of more than $6.5 billion of cash on hand, which includes cash from its joint ventures and revolving credit facilities.
Simon Property Group’s capital expenditure increased ~15.0% in 2Q17 while it decreased ~1.2% in 3Q17.
According to a survey conducted by the University of Michigan, the consumer sentiment index declined to 95.9 in December 2017 from 98.5 in November 2017.
SPG’s total operating expenses grew 13.0% in 3Q17 on a year-over-year basis, while they grew 22.6% and 6.4% in 2Q17 and 1Q17, respectively.
SPG’s long-term debt grew 14.0% in 3Q17 while it grew 2.2% in 2Q17 and 0.8% in 1Q17 on a year-over-year basis.