Americans Cannot Stop Using Their Phones. These 3 REITs Collect the Rent
Every time someone opens a map app or joins a video call, rent flows to the owners of the antenna carrying that signal. Three REITs have built their entire business on that…
Headquartered in Houston, TX Fiscal year ends December NYSE: CCI crowncastle.com
Crown Castle Inc. (NYSE: CCI) owns, operates, and leases approximately 40,000 cell towers and other structures geographically dispersed throughout the United States. The company provides access, including space or capacity, to its towers via long-term tenant contracts to wireless carriers. Crown Castle has a significant presence in each of the top 100 basic trading areas across the U.S., with 56% of towers in the Top 50 and 71% in the Top 100 BTAs. On May 1, 2026, Crown Castle completed the sale of its Fiber and Small Cell businesses for $8.5 billion gross ($8.4 billion net), transforming into a pure-play U.S. tower operator. The company's tenant base is highly concentrated, with T-Mobile representing 42%, AT&T 28%, and Verizon 23% of site rental revenues. Crown Castle generates revenue primarily through site rental fees from wireless tenants and seeks to grow cash flows by adding tenants to existing towers, which produces high incremental returns due to low marginal operating costs. The company has $26 billion in remaining contracted tenant receivables with a weighted average remaining term of 5 years. Crown Castle operates as a Real Estate Investment Trust (REIT) for U.S. federal income tax purposes and returns capital to shareholders through dividends and share repurchases. Updated
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Crown Castle Inc. (NYSE: CCI) owns, operates, and leases approximately 40,000 cell towers and other structures geographically dispersed throughout the United States. The company provides access, including space or capacity, to its towers via long-term tenant contracts to wireless carriers.
The Wall Street consensus 12-month price target for CCI is $94.45.