Zayo is reportedly in discussion with Crown Castle (CCI) to acquire the latter's lucrative fiber business. This aligns with Zayo and TPG vying for Crown Castle's assets nearing a valuation of $10 billion. Amid the negotiation, hedge funds identify CCI as one of the best Infrastructure Stocks for investment. Despite the fluctuating shares, CCI implemented operational changes and maintained its outlook for 2024. This move follows their successful earnings report and raising of $1.55 Billion via senior-secured tower revenue notes offering.
Moreover, the company, dealing with the pressurizing Activist-Elliot Management, managed to sell its UK subsidiary for $2 billion and reports indicate strong financial growth in its Q3 with a 14% increase in net income. However, the persistent price target adjustments by Citi and financial companies’ divesture has led to CCI's 52-week low of $88.64. Nevertheless, captivating investors with its 7% yield mark, the firm is considered an attractive 5G investment. The CFO’s exit in March and the potential sale of fiber and small cell will create dilution & put the dividend at risks; yet, many investors are expanding their stakes in the Crown Castle, believing in its potential recovery.
Crown Castle CCI News Analytics from Fri, 31 May 2024 07:00:00 GMT to Thu, 13 Feb 2025 12:45:58 GMT - Rating 4 - Innovation 3 - Information 9 - Rumor -5
