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Raymond James' Breakfast Roundtable

Raymond James Financial is a financial services holding company with subsidiaries engaged primarily in investment and financial planning, capital markets, and asset management. Since 2009, Raymond James has participated in raising nearly $400 billion in capital for our corporate clients. During this same time, we completed more than 170 advisory assignments, including over 140 M&A buy-side or sell-side advisory assignments with transaction values totaling over $14 billion. More than 6,200 financial advisors serve more than 2.4 million accounts in more than 2,600 locations throughout the United States and internationally.

RSVP for the 2013 Raymond James Breakfast Roundtable

Tuesday, May 21, 2013
7:30 — 9:00 am | Room: Galileo 905-906-907 (Level 1 of Venetian)

What are Towers REITy Worth?

The tower industry started out in the media sector (American Tower was spun out of American Radio Systems in 1998). With a recurring revenue business model involving the leasing of space on towers (the landlords) to wireless carriers (the tenants) the industry moved to the wireless telecom services sector (vs the telecom equipment sector and a primarily non-recurring sales model). While we expect towers to always be part of the wireless services sector, the overlap with another sector (Real Estate Investment Trusts, or REITs) has grown as American Tower converted to a REIT structure in 2012 and Global Tower Partners is also a REIT. This year the Raymond James Breakfast Roundtable features a panel of REIT and Infrastructure fund institutional investors. The topics addressed will include what is a REIT, why are towers turning into REITs, how do towers compare to other REITs, how do REIT investors view the tower industry, and what are towers REITy worth.


Advanced Reservations Required


Hosted by: Ric Prentiss, Director of Telecommunications Services Research, Raymond James

Prior to becoming a Wall Street analyst in 1996, Ric Prentiss spent 17 years in the telecommunications industry working for BellSouth and Southern Bell in engineering, corporate finance, financial management, international business planning and operations, mergers and acquisitions, and investor relations. Mr. Prentiss has received numerous accolades as a sell-side analyst including being ranked in the annual Institutional Investor survey, named the top-ranked analyst in both the mobile telecom and telecom equipment sectors in the Wall Street Journal Best on the Street survey, and the top stock-picker in his sector by StarMine Top Analyst survey and has twice been recognized in the Forbes Blue Chip analyst survey. Mr. Prentiss earned his B.S.E.E. from the University of Florida and his MBA from the University of Miami.