Brad Thomas explains that while SpaceX's Starlink is expanding global connectivity through satellites, these satellites address coverage but not capacity issues. Cell towers remain essential infrastructure with strong competitive advantages such as long-term contracts and high switching costs. Rather than one replacing the other, the future of communication lies in an integrated ecosystem combining satellites, towers, fiber, edge computing, and data centers, creating new opportunities for infrastructure owners.
American Tower (AMT) currently yields 3.71%, supported by long-term leases and a healthy AFFO payout ratio of about 65%, indicating dividend safety. The company paused dividend growth in 2023 but resumed increases in 2024, with management confident a...
Real Estate ETFs XLRE and VNQ currently yield about 3-4%, which remains attractive even as 10-year Treasury yields hover around 4.4%. XLRE focuses on about 30 large-cap REITs, heavily weighted in specialized properties like data centers and cell towe...
