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Crown Castle International Corp CCI

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Reliance on Edge Computing Will Develop Slowly; Opportunity Modest for Infrastructure Providers

Matthew Dolgin, CFA Equity Analyst

Analyst Note

| Matthew Dolgin, CFA |

The potential of edge computing has caused excitement across multiple industries. We believe edge computing is relevant and real, but we don't believe it will upend historical network architectures or completely change the landscape for communications infrastructure businesses--towers, data centers, and network carriers.

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Company Profile

Business Description

Crown Castle International owns and leases roughly 40,000 cell towers in the United States. It also owns more than 80,000 route miles of fiber. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. The company’s fiber is primarily leased by wireless service providers to set up small-cell network infrastructure and by enterprises for their internal connection needs. Crown Castle’s towers and fiber are predominantly located in the largest U.S. cities. The company has a very concentrated customer base, with more than 70% of its revenue coming from the big three U.S. mobile carriers. Crown Castle operates as a real estate investment trust.

Contact
1220 Augusta Drive, Suite 600
Houston, TX, 77057-2261
T +1 713 570-3000
Sector Real Estate
Industry REIT - Specialty
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Hard Assets
Employees 4,900

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