American Tower

American Tower is a real estate investment trust that owns and leases communications towers, hosting the antennas of wireless carriers across the United States and many international markets. Its business rests on long-term leases with built-in escalators, and the structural growth of mobile data traffic underpins steady demand for its infrastructure. As a REIT, American Tower is obliged to distribute most of its taxable income, and it has raised its payout consistently since converting to the structure. The yield sits at a moderate level, supported by contracted, recurring rental income, though rising interest rates and heavy debt loads are relevant risks for a capital-intensive tower operator.