As wireless carriers such as Verizon Communications (NYSE:VZ) and T-Mobile US (NASDAQ:TMUS) switch their wireless carriers from 4G to 5G, the demand for cell towers and fiber optic lines will continue to rise.

This will create opportunities for cell tower real estate investment trusts. These firms will be set to benefit from the new infrastructure that it is able to lease out to mobile carriers like AT&T (NYSE:T), and the two previously named.

Additionally, during the Covid-19 pandemic, many were forced to communicate by using technology, which has revealed the need for faster and smoother broadcasting speeds.

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Remember, these two cell tower REITs are equity REITs, meaning that they generate income through leasing their owned infrastructure, which happens to be a cell tower and fiber optics.

Crown Castle

Crown Castle Inc. (NYSE:CCI) is offering a dividend yield of 3.93% or $5.88 per share annually, using quarterly payments, with a strong track record of increasing its dividends for seven consecutive years.

The company, which leases space on its towers to wireless service providers, installs equipment on towers to support their wireless networks. Its fiber is primarily leased by wireless service providers to set up small-cell network infrastructure and by enterprises for their internal connection needs.

Crown Castle's portfolio owns and leases roughly 40,000 cell towers, and owns more than 85,000 route miles of fiber in the United States. "We are busy supporting our customers as they have begun to upgrade their existing cell sites and deploy thousands of new sites on our macro towers as part of the first phase of the 5G build out, which drove 6% organic revenue growth in our Towers segment through the first half of this year," Jay Brown, Crown Castle's CEO commented.

The 2022 full-year outlook is forecasting site rental revenues north of $6.2 billion, up 10% from the prior year, with adjusted funds from operations forecasted at $7.36 for 2022, up 6% from 2021.

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American Tower

American Tower Corporation (NASDAQ:AMT) is offering a dividend yield of 2.69% or $5.88 per share annually, making quarterly payments, with a superb track record of increasing its dividends for nine consecutive years. American Tower owns and operates more than 220,000 cell towers throughout the U.S., Asia, Latin America, Europe, and Africa, and also owns and operates 25 data centers in eight U.S. markets after acquiring CoreSite, in 2021.

During the second quarter of 2022, American Tower spent approximately $90 million to acquire 118 communications sites and other communications infrastructure assets, including 96 communications sites in connection with the company's previously disclosed agreement with Orange S.A. (NYSE:ORAN), as well as fiber connected to the company's communications sites in Spain from Telefónica de España S.A.U. (NYSE:TEF).

American Tower CEO Tom Bartlett cited "strong financial and operational results in the second quarter while generating double-digit dividend per share growth and building over 1,500 high-return towers."

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