Telecom Tower REITs
Case studies in telecom tower reits.
American Tower — Where Should the India Proceeds Go?
On 30 April 2024, American Tower Corporation (AMT) released first-quarter results before its scheduled 8:30 a.m. earnings call. Its agreement to sell its Indian operating subsidiary remained pending. Read case
Crown Castle: Setting the Next Capital-Allocation Policy
In May 2026, Crown Castle completed the sale of its fiber solutions and small-cell businesses. The transaction marked a strategic reset: towers became the company’s sole operating segment. By June 30, the company also reported completing the previously announced $1 billion share repurchase and repaying more than $7 billion of debt. Read case
SBA Communications: where should the next dollar go?
On February 27, 2025, the latest numbers in SBA Communications Corporation’s annual report were less than a day old. The tower owner had just reported 2024 results, issued a 2025 outlook, and declared a higher quarterly dividend. Its acquisition of more than 7,000 Millicom sites in Central America was already under contract. Read case