TPG in Advanced Talks to Acquire Crown Castle's Fiber Unit

Zacks12-21 02:25

According to people familiar with the matter, private equity firm, TPG is in advanced talks to buy Crown Castle, Inc.’s CCI fiber business for $8 billion. Per Bloomberg, the deal for the fiber and ...

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No final decision has been made and there is a chance that the ongoing discussions may not succeed or a different buyer might appear.\nOver the past few years, private equity firms have been actively investing in fiber and digital infrastructure companies to facilitate their expansion efforts. Crown Castle's wireless portfolio includes a network of small cells, which are small antennas that boost the capacity of wireless networks. These small cells are interconnected via fiber optic cable.\nThe potential sale would enable Crown Castle to focus on its core towers business, which consists of more than 40,000 towers across the United States as of Sept. 30, 2024.\nIn October 2024, TPG, along with fiber network owner Zayo Group, was in contention for the acquisition of this business as reported by Reuters.\nShares of this Zacks Rank #2 (Buy) company have declined 6% in the past six months against the industry’s 1.7% growth.\nImage Source: Zacks Investment Research\nOther Stocks to Consider\nSome other top-ranked stocks from the broader REIT sector are Highwoods Properties HIW and Alexander’s ALX, each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nThe Zacks Consensus Estimate for Highwoods Properties’ 2024 FFO per share has been raised marginally over the past month to $3.62.\nThe Zacks Consensus Estimate for Alexander’s current-year FFO per share has moved northward 8.7% over the past two months to $14.84.\nNote: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nHighwoods Properties, Inc. (HIW) : Free Stock Analysis Report\nCrown Castle Inc. (CCI) : Free Stock Analysis Report\nAlexander's, Inc. (ALX) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2493676470"}