Question-and-Answer Session
[Operator Instructions]. We will take our first question from the line of Gray Powell with Wachovia. Please go ahead.
Gray Powell - Wachovia Securities
Hi guys, good morning.
Jeffrey A. Stoops - President and Chief Executive Officer
Good morning.
Gray Powell - Wachovia Securities
Hey, just had a couple of quick questions. Has anything changed in your outlook for carrier activity overall, or was it mainly the upside in acquisition this quarter then to the upside in your 2008 guidance?
Jeffrey A. Stoops - President and Chief Executive Officer
The increase in the guidance Gray is as a result of the operation lease up in the fourth quarter, which doesn't begin to hit the financials till the first or second quarter of 08. Now it's ahead of our expectations, and it was also ahead of the... also because of the acquisitions and where we are on that front. We are still at this point projecting lease operates at the same rate that we enjoyed overall in 2007.
Gray Powell - Wachovia Securities
Great. And can you just talk about the characteristic of some of the acquisitions you are making just in terms of like the tenants per tower and the cash flow margin?
Jeffrey A. Stoops - President and Chief Executive Officer
Yes, we are still pursuing a wide variety of different types of assets, focusing primarily on the projected returns. But the towers, Gray, range from 2.5 to 3 tenant towers that we are buying for 13 times to one tenant towers that look just like new builds that we are buying over... for over 20 times that where price ranges that go from 3,000 a tower to up to $750,000 or more. So it's very much across the board. But I will give you our full year 2007 kind of averages. We bought towers throughout the entire year at a tower cash flow multiple run rate of 17 times, which we would think is about 15 times forward and at a price per tower of $538,000.
Gray Powell - Wachovia Securities
Okay. Well, great. Thank you very much.
Operator
Our next question is from the line of Brett Feldman with Lehman Brothers. Please go ahead.
Brett Feldman - Lehman Brothers
Yes, thanks for taking the question. Just real quick and I apologize that you gave these data points; what's the total number of actual tenants you have in your tallies [ph] right now?
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