Upon Conference Call, Benchmark Reports On Crown Castle International

Crown Castle International Corp. CCI is scheduled to be the first tower company to report Q3 results, with a conference call Thursday at 10:30AM (480-629-9678), Benchmark reports. “We expect initial 2011 guidance that will likely be a conservative ‘starting point' for the year,” Benchmark writes. “We view towers as attractive investments due to recurring revenue, superior operating leverage and sustained free cash flow growth.” Benchmark adds that Crown Castle is particularly attractive due to its domestic tower focus, balanced debt position at 5.1x 2011E OIBDA, attractive valuation relative to tower peers and REITs, and least exposure to the pending Sprint network consolidation. Crown Castle closed Friday at $42.56.