Investor’s Business Daily noted that there could be an upside for Crown Castle now that Sprint has announced their network upgrade. “The next phase in Sprint’s 4G network upgrade will likely use small-cell technology, an approach Verizon Communications has also taken,” IBD explained. Crown Castle has stepped up their small cell game. “Similar to towers built in the late 1990s and early 2000s, we are focused on building small cell networks in the most attractive locations in the US, in places like Manhattan, Washington DC, Southern California and Chicago. As mobile data demand grows, the necessity of small cells increase as evidenced by our growing pipeline of over 2500 anchor builds and colocations on existing systems, which have been awarded to us, but are not yet in construction,” Jay Brown CFO at Crown Castle said on the April 23 conference call. “Today, inclusive of our acquisition of NextG in 2012, we have invested approximately $1.7 billion in small cells. Our current yield on investment is 7%, inclusive of our $1 billion investment in NextG at an initial yield of approximately 4%. With our leadership position of over 14,000 nodes on air or under construction, and 7000 miles of fibre, we are winning new opportunities and driving yields up on our existing investments in small cell networks.” Continue reading here.