Cell Tower REITs: The Basics
<p>Cell tower REITs serve a crucial role as landlords for antennas, leasing space on numerous communication towers to wireless companies such as <a href="https://medium.com/@archer_ventures/using-porters-five-forces-to-analyze-verizon-vz-47020647ae3f" rel="noopener">Verizon Communications (VZ)</a>, T-Mobile US (TMUS), and AT&T (T), as well as their counterparts abroad.</p>
<p>These <a href="https://medium.com/@archer_ventures/is-a-reit-a-good-investment-cac8179a99e9" rel="noopener">REITs</a> thrive independently of any single wireless company, often renting out space on the same tower to multiple carriers. Their success is driven by the insatiable demand for more and faster data from mobile phone users, necessitating additional antennas in various locations and periodic network technology upgrades. Contracts with carriers typically span several years, ensuring a clear revenue outlook, and include annual rent escalations to safeguard against inflation.</p>
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