We attended CTR’s online analyst meeting on February 18, 2022. Management discussed the company’s 2022-2023 outlook in addition to other topics surrounding its businesses. Our key takeaways from the meeting reinforce our bullish view on CTR’s business prospects. Moreover, management’s outlook for the company exceeds our expectations — especially regarding the fast-growing telecom infrastructure leasing business that is central to our investment thesis on CTR. As such, we see potential upside to our current forecasts, pending a fuller review.