CCI - This 5%-Yielding Dividend Stock Sees More Growth Ahead Despite the Headwinds
2023-04-25 07:10:00 ET
Crown Castle (NYSE: CCI) has been a strong dividend growth stock since converting to a real estate investment trust (REIT). Since 2016, the communications-infrastructure REIT has grown its payout at a 9% compound annual rate. The company believes it can continue growing its dividend in the future.
It's facing some stiff headwinds that will slow its growth in the near term. That will cause its dividend to rise at a slower pace than its 7% to 8% annual target range.
However, the company expects growth to eventually reaccelerate, positioning it to achieve its target over the longer term. In the meantime, investors who buy shares are getting paid well while waiting for that reacceleration, given the stock's 5% dividend yield .
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This 5%-Yielding Dividend Stock Sees More Growth Ahead, Despite the Headwinds