Excerpts from this article appeared in the July 2018 edition of the Forbes Real Estate Investor  

As a REIT analyst, it’s my job to cover all sectors of real estate, including cell tower REITs.  

In the 2016 Annual Report, American Tower’s (AMT) CEO James D. Taiclet, Jr. explains that “the mobile phone has emerged as an indispensable part of our daily lives. It has evolved from a simple talk and text device to a multi-functional necessity capable of internet access, entertainment, travel, health monitoring, document delivery, and personal navigation, among countless other functions. As these handsets and their capabilities have grown and evolved, so too have the mobile networks upon which they rely.”