CCI - This Unstoppable Dividend Growth Stock Is Becoming a Powerful Passive Income Producer
Shares of Crown Castle (NYSE: CCI) have been under significant pressure this year. The real estate investment trust (REIT) focused on communications infrastructure has slumped more than 28%, in part because of the impact of higher interest rates.
However, one of the benefits of this lower share price is that it has driven up Crown Castle's dividend yield . The infrastructure REIT's yield is now up to almost 5% after it recently increased its payout by another 6.5%. With the company projecting more dividend growth, it's becoming a powerful passive income producer.
Crown Castle is currently on track to achieve its full-year forecast. That would see the REIT grow its adjusted funds from operations ( FFO ) by about 6%.
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This Unstoppable Dividend Growth Stock Is Becoming a Powerful Passive Income Producer