The Big 3 tower companies – American Tower (NYSE: AMT), Crown Castle (NYSE: CCI) and SBA Communications (NASDAQ: SBAC) – are all flying high with new deals with the U.S. national mobile network operators (MNOs).
The Big 3 towercos provide the critical infrastructure backbone for the three established national MNOs – AT&T (NYSE: T), T-Mobile (NASDAQ: TMUS) and Verizon (NYSE: VZ) along with planned DISH Network (NASDAQ: DISH) installations.
The Big 3 operate on a scale of their own. At the end of 1Q21, the Big 3 collectively owned and operated 100,000 towers in the U.S., roughly two-thirds of the existing communications macro towers in the country that support all wireless carriers’ more than 350,000 cell sites.
From a portfolio
perspective, the Big 3 are quite different. AMT’s global tower tally at
end of 1Q21 was 183,860 with nearly 43,000 towers in the domestic
market. CCI is a pure-play U.S. operator with 40,086 macro towers.
SBAC’s 1Q21 report showed 17,259 U.S. towers out of its global tally of
33,711. Continue Reading