Crown Castle International (NYSE: CCI) has benefited from the increasing demand for communications infrastructure over the years. As data usage rises, mobile carriers are securing more cell tower space to house additional equipment to improve their networks. That's helped boost the real estate investment trust's (REIT) returns and cash flow, supporting steady dividend growth.
While the company expects demand for cell tower space to remain strong this year, it sees 2022 as more of a transitory period. The REIT anticipates an acceleration in 2023 as mobile carriers shift their infrastructure needs. That bodes well for its ability to grow the dividend in the coming years.
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This REIT Sees an Acceleration Ahead Driven by 5G