Infrastructure Stock Performance Belies Underlying Business Strengths

By John Celentano, Inside Towers Business Editor

For more in-depth wireless infrastructure analytics and insights, subscribe to Intelligence by Inside Towers

On the final trading day of the summer, infrastructure company stocks reflected, as they have all year, a negative investor sentiment in the face of inflation and high interest rates. As of the close of business on Friday, our Wireless Infrastructure Value Index, a composite of the 12 infrastructure stocks, had an aggregate market capitalization of $375 billion. That figure is down more than 4 percent over the prior week’s level of $392 billion, representing a market cap loss of over $17 billion for the week. The Index comprises a mix of 12 publicly-held companies: three tower companies – American Tower (NYSE: AMT), Crown Castle (NYSE: CCI) and SBA Communications (NASDAQ: SBAC); five data center companies – Equinix (NASDAQ: EQIX), Digital Realty Trust (NYSE: DLR), Cyxtera Technologies (NASDAQ: CYXT), Iron Mountain (NYSE: IRM), and Switch (NYSE: SWCH); two fiber companies – Lumen Technologies (NYSE: LUMN) and Uniti Group (NASDAQ: UNIT); and, two digital infrastructure companies – Brookfield Infrastructure Partners (NYSE: BIP) and DigitalBridge Group (NYSE: DBRG). Continue Reading