Telecom Tower REITs
Telecom Tower REITs is losing market weight. Gained weight for 3 consecutive months.
Most of this industry's losses came from a few companies.
Where did the weight change come from?
12-month contribution in universe percentage points · contributions add to the industry change
The three largest same-direction contributors explain 100% of gross losses. Opposing contributions can make an individual company’s change larger than the industry’s net change.
How has it moved through history?
Share of matched S&P 500 members
Oct 2019 – Sep 2024 · market weight (%)
Relative performance
Industry return versus ACWI · no future data shown
Is participation broad or concentrated?
Actual constituent counts at this date, not the legacy synthetic breadth proxy
This is size concentration, not contribution to the 12-month change. The attribution above measures the latter.
Evidence can disagree
Independent dimensions · no combined score or bullish/bearish verdict
Other evidence and availability
Valuation data: unavailable; shown as zero placeholder.
Attention data: unavailable; shown as zero placeholder.
Actual fund flows: unavailable. No ETF, mutual-fund or institutional flow feed is connected.
Volume / turnover: unavailable in this dataset.
Follow the contribution to individual companies
Sorted by absolute 12-month weight contribution, not investment merit
| Company | Sub-industry | Country | Universe weight | 12M contribution | 12M price return | Revisions |
|---|---|---|---|---|---|---|
| Crown Castle → CCI | Telecom Tower REITs | United States | 0.120% | -0.013 pp | +36.4% | 0.0 |
| SBA Communications → SBAC | Telecom Tower REITs | United States | 0.060% | -0.012 pp | +22.4% | 0.0 |
| American Tower → AMT | Telecom Tower REITs | United States | 0.253% | -0.003 pp | +46.5% | 0.0 |
Underlying monthly industry observations
| Month | Weight | 1M change | 3M change | 6M change | 12M change | Relative return · 12M |
|---|---|---|---|---|---|---|
| Sep 2024 | 0.433% | +0.004 pp | +0.144 pp | -0.015 pp | -0.029 pp | +6.1% |
| Aug 2024 | 0.429% | +0.117 pp | +0.129 pp | -0.038 pp | -0.056 pp | -1.8% |
| Jul 2024 | 0.313% | +0.023 pp | -0.096 pp | -0.170 pp | -0.035 pp | -2.7% |
| Jun 2024 | 0.289% | -0.011 pp | -0.159 pp | -0.241 pp | -0.092 pp | -18.4% |
| May 2024 | 0.300% | -0.108 pp | -0.167 pp | -0.245 pp | -0.093 pp | -17.0% |
| Apr 2024 | 0.408% | -0.040 pp | -0.074 pp | -0.088 pp | -0.189 pp | -29.3% |
| Mar 2024 | 0.448% | -0.019 pp | -0.083 pp | -0.014 pp | -0.171 pp | -25.0% |
| Feb 2024 | 0.467% | -0.015 pp | -0.078 pp | -0.018 pp | -0.154 pp | -22.5% |
| Jan 2024 | 0.483% | -0.048 pp | -0.014 pp | +0.135 pp | -0.203 pp | -26.3% |
| Dec 2023 | 0.531% | -0.014 pp | +0.069 pp | +0.149 pp | -0.146 pp | -19.6% |
| Nov 2023 | 0.545% | +0.049 pp | +0.059 pp | +0.152 pp | -0.122 pp | -17.2% |
| Oct 2023 | 0.496% | +0.035 pp | +0.149 pp | -0.101 pp | -0.154 pp | -25.5% |
| Sep 2023 | 0.462% | -0.024 pp | +0.080 pp | -0.157 pp | -0.298 pp | -38.8% |
| Aug 2023 | 0.486% | +0.138 pp | +0.093 pp | -0.136 pp | -0.328 pp | -39.5% |
| Jul 2023 | 0.347% | -0.034 pp | -0.250 pp | -0.338 pp | -0.479 pp | -39.4% |
| Jun 2023 | 0.381% | -0.012 pp | -0.237 pp | -0.296 pp | -0.490 pp | -35.5% |
| May 2023 | 0.393% | -0.204 pp | -0.229 pp | -0.274 pp | -0.454 pp | -32.0% |
| Apr 2023 | 0.597% | -0.022 pp | -0.088 pp | -0.053 pp | -0.226 pp | -23.0% |
| Mar 2023 | 0.619% | -0.003 pp | -0.058 pp | -0.141 pp | -0.160 pp | -14.3% |
| Feb 2023 | 0.622% | -0.064 pp | -0.045 pp | -0.192 pp | -0.101 pp | -5.9% |
| Jan 2023 | 0.685% | +0.008 pp | +0.035 pp | -0.141 pp | -0.084 pp | -3.3% |
| Dec 2022 | 0.677% | +0.010 pp | -0.082 pp | -0.194 pp | -0.174 pp | -12.1% |
| Nov 2022 | 0.667% | +0.017 pp | -0.147 pp | -0.180 pp | -0.128 pp | -4.8% |
| Oct 2022 | 0.650% | -0.109 pp | -0.176 pp | -0.173 pp | -0.165 pp | -5.0% |
| Sep 2022 | 0.759% | -0.054 pp | -0.112 pp | -0.020 pp | -0.055 pp | +6.0% |
| Aug 2022 | 0.814% | -0.013 pp | -0.034 pp | +0.091 pp | -0.044 pp | +6.9% |
| Jul 2022 | 0.827% | -0.045 pp | +0.004 pp | +0.057 pp | -0.029 pp | +8.8% |
| Jun 2022 | 0.871% | +0.024 pp | +0.092 pp | +0.020 pp | +0.026 pp | +11.9% |
| May 2022 | 0.847% | +0.024 pp | +0.124 pp | +0.052 pp | +0.030 pp | +11.8% |
| Apr 2022 | 0.823% | +0.044 pp | +0.053 pp | +0.007 pp | -0.002 pp | +7.2% |
| Mar 2022 | 0.779% | +0.056 pp | -0.072 pp | -0.035 pp | +0.367 pp | +3.8% |
| Feb 2022 | 0.723% | -0.047 pp | -0.072 pp | -0.135 pp | +0.341 pp | +2.1% |
| Jan 2022 | 0.770% | -0.082 pp | -0.046 pp | -0.086 pp | +0.292 pp | +2.0% |
| Dec 2021 | 0.851% | +0.056 pp | +0.037 pp | +0.006 pp | +0.043 pp | +13.4% |
| Nov 2021 | 0.795% | -0.020 pp | -0.062 pp | -0.022 pp | -0.083 pp | -3.7% |
| Oct 2021 | 0.816% | +0.001 pp | -0.040 pp | -0.009 pp | -0.140 pp | -10.6% |
| Sep 2021 | 0.814% | -0.043 pp | -0.031 pp | +0.402 pp | +0.813 pp | -13.9% |
| Aug 2021 | 0.858% | +0.002 pp | +0.040 pp | +0.476 pp | +0.856 pp | -6.3% |
| Jul 2021 | 0.855% | +0.010 pp | +0.030 pp | +0.377 pp | +0.854 pp | -15.7% |
| Jun 2021 | 0.845% | +0.028 pp | +0.433 pp | +0.037 pp | +0.844 pp | -20.2% |
| May 2021 | 0.817% | -0.008 pp | +0.435 pp | -0.061 pp | +0.816 pp | -26.4% |
| Apr 2021 | 0.825% | +0.413 pp | +0.347 pp | -0.131 pp | -0.319 pp | -23.1% |
| Mar 2021 | 0.412% | +0.030 pp | -0.396 pp | +0.411 pp | +0.411 pp | -26.1% |
| Feb 2021 | 0.382% | -0.096 pp | -0.497 pp | +0.381 pp | +0.381 pp | -21.8% |
| Jan 2021 | 0.478% | -0.330 pp | -0.478 pp | +0.477 pp | -0.474 pp | -11.3% |
| Dec 2020 | 0.808% | -0.070 pp | +0.807 pp | +0.807 pp | -0.114 pp | -7.9% |
| Nov 2020 | 0.879% | -0.077 pp | +0.878 pp | +0.877 pp | -0.013 pp | +2.6% |
| Oct 2020 | 0.956% | +0.955 pp | +0.955 pp | -0.188 pp | +0.010 pp | +6.5% |
| Sep 2020 | 0.001% | -0.000 pp | -0.000 pp | +0.000 pp | -0.971 pp | +7.0% |
| Aug 2020 | 0.001% | -0.000 pp | -0.000 pp | +0.000 pp | -1.043 pp | -2.9% |
| Jul 2020 | 0.001% | -0.000 pp | -1.143 pp | -0.951 pp | -0.940 pp | +19.0% |
| Jun 2020 | 0.001% | -0.000 pp | +0.000 pp | -0.921 pp | -0.915 pp | +27.9% |
| May 2020 | 0.001% | -1.143 pp | +0.000 pp | -0.890 pp | -0.994 pp | +25.2% |
| Apr 2020 | 1.144% | +1.143 pp | +0.192 pp | +0.198 pp | +0.245 pp | +36.6% |
| Mar 2020 | 0.001% | +0.000 pp | -0.922 pp | -0.971 pp | -0.933 pp | +31.7% |
| Feb 2020 | 0.001% | -0.952 pp | -0.891 pp | -1.043 pp | -0.854 pp | +25.9% |
| Jan 2020 | 0.952% | +0.030 pp | +0.006 pp | +0.011 pp | +0.473 pp | +17.1% |
| Dec 2019 | 0.923% | +0.031 pp | -0.049 pp | +0.006 pp | +0.447 pp | +13.7% |
| Nov 2019 | 0.892% | -0.054 pp | -0.152 pp | -0.103 pp | +0.428 pp | +13.9% |
| Oct 2019 | 0.946% | -0.026 pp | +0.005 pp | +0.047 pp | +0.497 pp | +24.1% |
How are these descriptive states defined?
Gaining / losing: 12-month weight change above +0.005pp / below −0.005pp. Direction and speed are separate dimensions, not mutually exclusive recommendations.
Accelerating / slowing: compare the most recent 3M change with the preceding 3M change. Accelerating means a positive change speeds up by >0.02pp. Slowing means the magnitude of movement declines by >0.02pp. A falling industry can also slow.
Reversing: the last two 3M changes have opposite signs, outside a ±0.005pp tolerance. Persistence counts consecutive same-direction monthly changes.
Broad / concentrated: company attribution, not a market-cap concentration shortcut. Concentrated means the three largest same-direction contributors account for ≥70% of gross same-direction changes; otherwise broad requires ≥60% of constituents moving with the industry. Other cases are mixed.
Weights use matched S&P 500 members’ market-cap estimates, based on SEC-reported shares available by each month-end and monthly closing prices. Companies without a matched price or share record are omitted, so the denominator is the matched sample rather than every index member. These are not official float-adjusted S&P weights. Flow is not measured.