Crown Castle
- Industrie
- REITs
- Bourse
- États-Unis
- Pays / Région
- USA
- Date d'introduction en bourse
- 14 août 1998
- Effectif
- 1 500
- Site web
- www.crowncastle.com
Fourchette de valorisation composite · prudent $60–$70 / raisonnable $75–$90 / optimiste $95–$110. À $74.13, Entre la fourchette prudente et la fourchette raisonnable.
À la publication $91.46 (24 mai 2026)
Données EODHD, présentées dans la devise de reporting ; à titre indicatif uniquement, ne constitue pas un conseil en investissement.
Crown Castle Inc. owns, operates and leases approximately 40,000 cell towers across the U.S. This nationwide portfolio serves as the foundation of wireless connectivity that provides cities and communities access to essential data, technology and wireless service " bringing information, ideas, innovations and the connectivity of modern life to help people and businesses thrive. Crown Castle Inc. was incorporated in 1994 and is based in Houston, United States.
Historique
Crown Castle Inc. was incorporated in 1994 and is based in Houston, United States, and went public on August 14, 1998. The company built itself into a composite communications infrastructure platform spanning towers, fiber and small cells, but its fiber expansion proved capital-intensive: capital expenditure was about $1.2 billion in 2021 (roughly $907 million directed to fiber) and about $1.3 billion in 2022 (roughly $1 billion to fiber). The fiber strategy ultimately disappointed, leading to a $5 billion goodwill impairment on the fiber reporting unit in 2024 and a $1.575 billion disposal loss recognized in 2025. Alongside these setbacks, the business absorbed Sprint cancellations and a DISH contract termination. Leadership turned over repeatedly during this period: Jay Brown announced his departure at the end of 2023, Steven Moskowitz took office in 2024 before being dismissed in March 2025, and Chris Hillabrant formally became CEO in September 2025. On May 1, 2026, Crown Castle completed the sale of its Fiber Solutions and Small Cell businesses, receiving about $8.4 billion in net cash proceeds and transforming into a pure U.S. macro-tower REIT; the company stated it intends to use part of the proceeds to repurchase about $1 billion of stock and repay more than $7 billion of debt. The company employs about 1,500 people.
Position dans le secteur
After divesting its fiber and small cell businesses on May 1, 2026, Crown Castle became the only large, publicly listed, pure U.S. tower-asset company. Its core comparable peers are American Tower (AMT) and SBA Communications (SBAC); American Tower is more international and carries a data center business, while SBA Communications focuses on towers with a footprint across the Americas and Africa. Crown Castle's differentiation lies not in globalization but in its pure U.S. market focus, asset density and location quality: it owns about 40,000 towers, with 56% located in the top 50 U.S. BTAs and 71% in the top 100 BTAs. Its tenant base is heavily concentrated among U.S. wireless carriers — on a most-recent-quarter-annualized site rental basis as of the first quarter of 2026, T-Mobile accounted for 42%, AT&T 28% and Verizon 23%, with all others just 7%, so the top three customers together represented about 93%. Contracts typically run 5 to 15 years with fixed or CPI-linked escalators and multiple renewal options. The company's competitive position rests on infrastructure-type advantages: scale and prime location, co-location economics where additional tenants on an existing tower carry very low marginal cost, and barriers from site selection, zoning, land rights and construction. Older assets are more economic — towers built or acquired in 2006 and earlier averaged 2.9 tenants each versus 2.2 for later assets, with cash yields of roughly 21% and 11% respectively. As of March 31, 2026, about 57% of its tower sites sat on leased land and 43% on owned land.
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