Wireless tower industry stocks soared this week, with major players' shares rising above previous 52-week highs. American Tower Corp. was trading at $9.25 per share, Crown Castle International Corp. hit $7.94, SBA Communications Corp. was at $3.10 and SpectraSite Inc. was at $49.40 per...
HOUSTON-Crown Castle International Corp. announced that the quarterly dividend on its 12.75-percent senior exchangeable preferred stock will be paid June 16 to holders of record as of June 1. The dividend will be paid in shares of preferred stock at a rate of 31.88...
As the wireless industry comes of age, upgrades are necessary to keep existing, legacy infrastructure in working order and compatible with emerging wireless communications technologies. Those upgrades and enhancements start with the very foundation of wireless communication, wireless tower sites.Physical tower upgrades occur mainly...
HOUSTON-Crown Castle International Inc. released its first quarter 2003 results and announced changes to certain agreements with Verizon, affecting two Crown joint ventures.The company's total revenue was $216.7 million, down from the year ago quarter's $220.6 million. The decrease in total revenue reflects the...
American Tower Corp.'s first-quarter 2003 results reflected a continued focus on its core rental and management operations and optimism in financial expectations for the latter half of 2003.The company reported revenues of $177.2 million, down from the $186.6 million reported a year ago, which...
HOUSTON-Crown Castle International Corp. announced it will pay the quarterly dividend on its 6.25 percent Convertible Preferred Stock on May 15 to holders of record as of May 1 in shares of its common stock. The dividend will be paid at a rate of...
HOUSTON-Crown Castle International Corp. said the quarterly dividend on its 6.25-percent convertible preferred stock will be paid May 15 to all holders of record as of May 1. The dividend will be paid in shares of Crown's common stock at a rate that will...
BOSTON-Shares of American Tower Corp. hit a new 52-week high on Thursday, trading at $6.15 by mid-day. The company's stock is up 72 percent since the end of 2002. Other tower company stocks are also up for the year, with Crown Castle International Corp....
HOUSTON-Tower owner and operator Crown Castle International Corp.'s fourth-quarter 2002 results released late Wednesday reflected lower total revenues, but an increase in site rental and broadcast transmission revenues and an improved net loss. The company reported total revenue of $228 million, down from...
HOUSTON-Crown Castle International Corp. said it will pay the quarterly dividend on its 12 3/4-percent senior exchangeable preferred stock on March 17 to holders of record as of March 1. The dividend will be paid at a rate of 31.875 shares of preferred stock...
ST. PETERSBURG, Fla.-Raymond James & Associates Inc. has increased its financial expectations, including year-end 2003 price targets, for tower giants Crown Castle International Inc. and American Tower Corp.Crown Castle's price target has been increased from $6 to $6.50. Analysts said the previous target was...
HOUSTON-Crown Castle International Corp. announced the quarterly dividend on its 6.25-percent convertible preferred stock will be paid on Feb. 17 to holders of record on Feb. 1. The dividend will be paid in shares of the company's common stock-with the dividend rate to be...
NEW YORK-Standard & Poor's Ratings Services cut its rating on Crown Castle International Corp. to a "B-" and said the outlook for the company, which was $3.4 billion in debt at the end of the third quarter 2002, is negative. "With wireless carriers projected...
BOCA RATON, Fla.-SBA Communications Corp. has reaffirmed its fourth quarter financial guidance, which it plans to officially release March 24, 2003.SBA expects to record total revenues of $63.5 million to $70 million and expects earnings before interest, taxes, depreciation and amortization, as well as...
NEW YORK-The U.S. wireless tower industry is at least 18 to 24 months away from recovery, according to a recent report from Standard & Poor's Rating Services.In its report, S&P cites financial challenges faced in 2002 by the five publicly traded U.S. tower companies,...
HOUSTON-Crown Castle International Corp. said it will pay the quarterly dividend on its 12 3/4 percent senior exchangeable preferred stock on Dec. 15, 2002, to all holders of record on Dec. 1, 2002.The dividend will be paid in shares of the preferred stock at...
NEW YORK-CKW Wireless Pty Ltd., an Australian subsidiary of ArrayComm Inc., San Jose, Calif., has launched a pre-commercial trial in Sydney of the i-Burst personal broadband system.ArrayComm's patented IntelliCell technology, based on fully adaptive smart antennas, is the foundation for the i-Burst system, which...
NEW YORK-American Tower Corp.'s stock has been upgraded to "Strong Buy" by Raymond James & Associates Inc. in anticipation of several financial actions expected to occur by early 2003.American Tower is expected to announce structural separation of its Verestar satellite division before year-end, which...
NEW YORK-American Tower Corp.'s stock has been upgraded to "Strong Buy" by Raymond James & Associates Inc. in anticipation of several financial actions expected to occur by early 2003.American Tower is expected to announce structural separation of its Verestar satellite division before year-end, which...
NEW ORLEANS-Smart antenna maker Metawave Communications Corp. said it has delivered its initial commercial SmartShare product to a subsidiary of Crown Castle International Corp."Together, we have removed the doubts traditionally associated with shared antenna systems by enabling independently optimized antenna patterns for each wireless...
BOSTON-The four publicly traded tower companies received a much-needed boost from Wall Street this week, following tolerable carrier earnings and some financial announcements of their own.Third-quarter earnings announcements from AT&T Wireless Services Inc. and Nextel Communications Inc., including AT&T's plan to spend $2.3 billion...
NEW YORK-Standard & Poor's Ratings Services said late last week it has placed B-plus corporate credit ratings on American Tower Corp. and Crown Castle International Corp. and a B rating on SBA communications Corp., and put all three companies on CreditWatch with negative implications."The...
WASHINGTON, D.C.-Crown Castle International Corp. will cut 250 jobs, close offices, and take a charge between $7 million and $10 million in the fourth quarter, according to a filing with SEC detailing the restructuring of its U.S. business.Crown Castle plans to streamline its U.S....
BOSTON-Attempting to squelch rumors it will run out of cash, American Tower Corp. reaffirmed its total revenues for third quarter 2002.American Tower expects to report tower revenues in the range of $140 million to $144 million and tower cash flow between $85 million and...
