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Crown Castle books 26.2% YOY increase in Q3 FFO

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Crown Castle books 26.2% YOY increase in Q3 FFO

Crown Castle International Corp. reported funds from operations for the third quarter of $515 million, a rise of 26.2% in the aggregate from $408 million in the 2017 third quarter.

For the third quarter, adjusted FFO grew 26.1% in the aggregate on an annual basis to $579 million from $459 million.

Crown Castle forecasts FFO in the range of $567 million to $577 million for the fourth quarter. The company also expects AFFO for the fourth quarter at between $591 million and $601 million.

For the full year, the company expects FFO of between $2.06 billion and $2.07 billion, and AFFO of between $2.27 billion and $2.28 billion. For the 2019 full year, the company expects FFO of $2.25 billion to $2.30 billion and AFFO of $2.41 billion to $2.46 billion.

The company also declared a quarterly cash dividend of $1.125 per common share, a 7% increase from its previous dividend. The dividend will be payable Dec. 31 to stockholders of record as of Dec. 14.