09:22 AM EDT, 06/11/2024 (MT Newswires) -- Crown Castle ( CCI ) said Tuesday it now expects 2024 adjusted funds from operations of $6.91 per share to $7.02 per share, up from its prior range of $6.85 to $6.97.

Analysts polled by Capital IQ expect $6.90.

Additionally, the company said its is reducing staffing levels by more than 10% from its current levels and shutting down certain offices. The staffing reductions and other cost-saving plans will result in $100 million in annualized run-rate cost savings, it said.

Crown Castle's ( CCI ) stock was up 1.7% in recent Tuesday premarket activity.

Price: 101.51, Change: +1.66, Percent Change: +1.66