Crown Castle

The business behaves like a tollbooth: contracted tenant payments total about $28.1 billion with a weighted average remaining term near six years, and escalators add embedded growth.

Reported quarterly AFFO per share for continuing operations across Q4‑24 to Q3‑25 was 1.20, 1.10, 1.02, and 1.12, yielding an estimated TTM of about 4.44 per share, which aligns with the 2025 full‑year AFFO per share outlook midpoint of about 4.29. Predictability is tempered by episodic churn from carrier consolidation (Sprint cancellations) and by capex cycles at the carriers, but overall visibility is strong by REIT standards.