CCI - Down 27% This Dividend Stock Is Still a Tower of Power
Crown Castle (NYSE: CCI) aims to continue years of market outperformance by building out as well as up, and now might be the time to climb aboard this cell tower titan.
There are several reasons CCI stock could be a good buy right now, not the least of which is the company's aggressive investment in the rapid expansion of 5G networks . This real estate investment trust (REIT) is also a passive income machine and its battered stock price could be signaling a solid buy now, especially for those willing to hold on.
Those who did years ago have been well rewarded as Crown Castle rides the wave of cell tower expansion. The major mobile carriers are among the largest tenants of this infrastructure REIT's collection of 40,000 cell towers across the country, and the chart below shows how CCI stock has outperformed the market since the 2007 introduction of the iPhone.
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Down 27%, This Dividend Stock Is Still a Tower of Power