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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 regarding conservative guidance and exclusion of dividends in price change calculations.",
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      "text": "1.10x Coverage scenario drives 43% upside to recent share price at a 4.0% dividend yield",
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      "text": "Note: We believe CCI will earn approximately $5.00 per share of AFFO in 2015, although we expect the Company to guide more conservatively...",
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      "text": "While CCI may begin at a lower payout ratio as shown on the previous page, we believe the optimal long-term policy is 1.10x Coverage of AFFO. Equates to a payout ratio of ~90% of AFFO, or ~80% of free cash flow after maintenance capex.",
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