American Tower (AMT -0.70%) and Crown Castle (CCI -0.67%) are two of the largest real estate companies in the world, but despite a generally strong rebound from real estate in 2023, both have dramatically underperformed the market. Here's a rundown of why they've performed so poorly and what to expect going forward.

*Stock prices used were the afternoon prices of July 3, 2023. The video was published on July 5, 2023.