2024-07-02 07:00:00 ET
Summary
- The REIT sector has grown significantly since 2011 when the IRS classified cell towers as real property.
- Crown Castle has underperformed peers American Tower and SBA Communications since 2017.
- New CEO Steven Moskowitz aims to improve performance, but challenges persist in Q2-24 with revenue expected to decline.
Since 2011 when the Internal Revenue Service (‘IRS’) agreed to classify cell towers as real property, the REIT sector has mushroomed.
American Tower ( AMT ) was the first public company to convert from a C-Corp to REIT (2011) and later Crown Castle ( CCI ) – in 2014 – and SBA Communications ( SBAC ) – in 2017 – joined REIT-dom....
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For further details see:
Crown Castle: Value Trap?