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Crown Castle reports Q3 results, lifts common dividend

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Crown Castle reports Q3 results, lifts common dividend

Crown Castle International Corp. reported third-quarter adjusted funds from operations of $458.5 million, compared to $415.8 million in the third quarter of 2016.

FFO for the quarter came to $408.4 million, up from $369.9 million in the year-ago quarter.

Site rental revenues increased 10% year over year during the quarter to $893 million from $812 million.

Crown Castle also increased its quarterly common stock dividend by 11% to $1.05 per share.

The company expects AFFO for the fourth quarter to be between $430 million and $435 million and FFO to be between $376 million and $381 million.

For the 2017 full year, Crown Castle expects AFFO to total roughly $1.78 billion and FFO between $1.59 billion and $1.60 billion, down from its previous full-year AFFO and FFO guidance of $1.81 billion to $1.84 billion and $1.62 billion to $1.65 billion, respectively.

For the 2018 full year, the company forecasts AFFO in the range of $2.22 billion to $2.26 billion and FFO in the range of $1.91 billion to $1.96 billion.