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Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
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Company details
Market cap
$36B
P/E ratio
34×
Div yield
5.2%
Dividend / yr
$4.25
Site rental rev
~$4B
Towers
40,000+
Carrier rent
~90% big-3
Recurring rev
~95%
In plain English
Crown Castle owns more than 40,000 cell towers across the United States and rents space on them to the big wireless carriers — T-Mobile, AT&T and Verizon — who together pay about 90% of its rent. After selling its fiber and small-cell businesses for $8.5B in May 2026 (fiber to Zayo, small cells to an EQT fund), it is now the only large US-focused pure-play tower REIT, returning most of its cash to shareholders as a dividend.
In simple terms
What Crown Castle really sells
Crown Castle owns more than 40,000 cell towers across the United States and rents space on them to the big wireless carriers — T-Mobile, AT&T and Verizon — who together pay about 90% of its rent. After selling its fiber and small-cell businesses for $8.5B in May 2026 (fiber to Zayo, small cells to an EQT fund), it is now the only large US-focused pure-play tower REIT, returning most of its cash to shareholders as a dividend.
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