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  "documentTitle": "Crown Castle International Corp. (CCI)",
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  "authorName": "Corvex Management",
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  "presentationDate": "2014-10-14 00:00:00",
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  "notes": "Includes a disclaimer note at the bottom regarding 2015 AFFO projections and dividend exclusion in price change calculations.",
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      "text": "We believe CCI could conservatively trade at a 4.0% dividend yield in this scenario, providing a significantly lower cost of capital and driving 27% upside to the Company's recent share price",
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      "text": "Note: We believe CCI will earn approximately $5.00 per share of AFFO in 2015... (see Appendix).",
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      "text": "We believe CCI could conservatively trade at a 4.0% dividend yield in this scenario, providing a significantly lower cost of capital and driving 27% upside to the Company's recent share price. Over time, we believe the Company should trade below a 4.0% yield as new investors become familiar with the CCI story, driving additional long-term upside for owners. 3.5% dividend yield on 2016 dividend equates to over 60% upside plus dividends received. Re-rating of CCI stock will enable Company to go on the offensive with stronger equity currency and differentiated capital allocation strategy. Responsibility of the Company to embrace change or provide an alternative which generates superior value for shareholders over similar time frame.",
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      "text": "dividend yield: 4.0%",
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      "text": "80% AFFO Payout Scenario (1.20x Coverage)",
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