The ongoing conversion to 5G is lifting the fortunes of REITs that specialize in cell towers, driving leasing demand for existing multi-tenant towers as these REITs expand their footprints in new 5G infrastructure.
Crown Castle, a REIT with 40,000 cell towers, says it expects the conversion to 5G to again produce double-digit growth of its dividend in 2022.
"We expect elevated levels of tower leasing to continue this year and anticipate leading the industry once again with the highest US tower revenue growth," Crown Castle CEO Jay Brown said, during the company's recent conference call.
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