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American Tower Corporation (NYSE: AMT) is a leading global real estate investment trust (REIT) and a premier owner and operator of wireless and broadcast communications infrastructure. Headquartered in Boston, Massachusetts, American Tower is ranked 375 on the Fortune 500 list as of 2022. The company manages a vast and diversified portfolio that includes over 220,000 communications sites worldwide, spanning markets in the United States, Asia, Latin America, Europe, and Africa.
As of 2023, American Tower operates more than 40,000 towers in the United States, generating nearly half of its total revenue from this market. The international footprint includes approximately 75,000 towers in India, around 50,000 towers in Latin America (with Brazil being the largest market), 30,000 towers in Europe, and 25,000 towers in Africa. The company also owns and/or operates 28 data centers in 10 U.S. markets following the acquisition of CoreSite, enhancing its data center capabilities.
American Tower’s growth strategy includes solid partnerships with top mobile carriers, which account for a significant portion of its revenue. The company has recently made strides in enhancing its network connectivity solutions through agreements with businesses such as CoreSite and Glo Fiber Business, providing scalable and secure data exchange solutions to enterprises, government entities, and financial institutions. The CoreSite Washington, D.C., data center campus offers robust colocation services, meeting stringent deployment requirements and data sovereignty laws.
Financially, American Tower exhibited robust performance in 2023, with a notable 4.0% increase in total revenue to $11,144 million and a 5.1% rise in property revenue to $11,001 million. The company also saw a significant adjusted EBITDA increase of 6.7% to $7,087 million. Despite a challenging global economic environment, American Tower maintained a strong financial position through cost management and strategic initiatives to reduce net leverage and optimize debt exposure.
Looking forward, American Tower remains focused on leveraging advancements in 5G, artificial intelligence, and distributed compute workloads to drive future demand for its infrastructure. The company's strategic priorities include enhancing shareholder returns, sustaining growth, and offering a unique value proposition by capitalizing on its global scale, best-in-class operating model, and investment-grade balance sheet.
American Tower (NYSE: AMT) has announced the election of Rajesh Kalathur to its Board of Directors. Kalathur currently serves as President of John Deere Financial and Chief Information Officer of Deere & Company. In his role as CIO, he has led the implementation of IT agile operating model and digital transformation initiatives focusing on AI and automation technologies.
With over 27 years of experience across finance, information technology, operations, and sales and marketing functions, Kalathur previously served as Chief Financial Officer of Deere & Company. AMT's CEO Steve Vondran expressed confidence that Kalathur's extensive global financial, technical, and operating experience will provide critical perspective for optimizing and growing AMT's global business.
American Tower (NYSE: AMT) has scheduled its fourth quarter and full year 2024 earnings release for February 25, 2025. The company will release its financial results at 7:00 a.m. ET, followed by a conference call at 8:30 a.m. ET to discuss the results.
The conference call will be accessible via phone for U.S./Canada callers at (877) 692-8955 and international callers at (234) 720-6979, with access code 7716853. A live simulcast will be available on the company's investor relations website. An audio replay will be available from February 25, 2025, 11:30 a.m. ET through March 11, 2025.
American Tower, one of the largest global REITs, operates over 148,000 communications sites and U.S. data center facilities.
American Tower (NYSE: AMT) has released its tax reporting information for 2024 distributions. The company made four quarterly distributions throughout 2024:
- February 1, 2024: $1.70 per share
- April 26, 2024: $1.62 per share
- July 12, 2024: $1.62 per share
- October 25, 2024: $1.62 per share
Each distribution is classified as ordinary taxable dividends, with small portions qualifying as qualified taxable dividends and Section 897 ordinary distributions. The company noted that there were no capital gain, unrecaptured section 1250 gain, or non-dividend distributions for the 2024 tax year. The quarterly distribution declared in December 2024, payable on February 3, 2025, will be applicable to the 2025 tax year.
CoreSite, a subsidiary of American Tower (NYSE: AMT), will participate in the Pacific Telecommunications Conference 2025 from January 19-22 at the Hilton Hawaiian Village Waikiki Beach Resort in Honolulu. The event will feature several key presentations, including an executive panel discussion on 'AI Impact and the Future of Digital Infrastructure' with CoreSite CEO Juan Font, and a Lightning Talk on 'Harnessing the Power of Connectivity to Accelerate Technology Advancements' by VP Brian Eichman.
The company will also sponsor the PTC-W: Women's Reception and co-host a networking event with American Tower, Schneider Electric, and Kio Data Centers. CoreSite provides hybrid IT solutions for enterprises, cloud, network, and IT service providers, operating interconnected data center campuses with direct cloud onramps to support digital transformation.
American Tower (NYSE: AMT) has announced key leadership changes effective January 13, 2025. Eugene ('Bud') Noel, currently Executive Vice President and President of U.S. Tower Division, will assume the newly created position of Executive Vice President and Chief Operating Officer. In this global role, Noel will oversee AMT's worldwide operations and IT, focusing on operational efficiency and customer service.
Richard ('Rich') Rossi, currently Senior Vice President and General Counsel of U.S. Tower, will succeed Noel as Executive Vice President and President, U.S. Tower. Rossi, who joined AMT in 2001, has held various leadership positions across sales, marketing, finance, real estate, and operations.
The creation of the COO position aims to enhance customer service delivery and accelerate technology implementation across AMT's global platform.
American Tower (NYSE: AMT) has announced its latest quarterly cash distribution of $1.62 per share on the Company's common stock. The distribution will be payable on February 3, 2025, to stockholders who are on record at the close of business on December 27, 2024.
American Tower (NYSE: AMT) has announced that Rod Smith, Executive Vice President, CFO and Treasurer, will present at the UBS Global Media and Communications Conference on December 10, 2024, at 12:45 p.m. ET in New York. The presentation will be accessible via live webcast on the company's website.
American Tower, a leading global REIT, operates over 148,000 communications sites and maintains an interconnected network of U.S. data center facilities. The company specializes in owning, operating, and developing multitenant communications real estate.
American Tower (NYSE: AMT) has announced pricing for its registered public offering of senior unsecured notes. The offering includes two tranches: $600.0 million in notes due 2030 with a 5.000% interest rate, priced at 99.622% of face value, and $600.0 million in notes due 2035 with a 5.400% interest rate, priced at 99.455% of face value.
The net proceeds, expected to be approximately $1,183.7 million after expenses, will be used to repay existing debt under the company's $6.0 billion and $4.0 billion senior unsecured revolving credit facilities. The offering is being managed by Barclays, Mizuho, RBC Capital Markets, Scotiabank, and TD Securities as Joint Book-Running Managers.
American Tower (NYSE: AMT) reported Q3 2024 financial results, marked by the completion of its India operations sale to Data Infrastructure Trust. Key metrics show total revenue grew marginally to $2,522 million, while property revenue decreased 1.0% to $2,470 million. The company reported a significant net loss of $(780) million, largely due to a $1.2 billion loss on the India sale. Adjusted EBITDA decreased 0.9% to $1,687 million, while AFFO attributable to AMT stockholders increased 2.6% to $1,237 million. The company maintains strong liquidity of $10.9 billion and declared a quarterly distribution of $1.62 per share.
CoreSite, a subsidiary of American Tower (NYSE: AMT), has launched the first Oracle FastConnect 50G multicloud networking capability in three data center markets. This new service on CoreSite's Open Cloud Exchange® (OCX) offers ultra-low-bandwidth connectivity of up to 50 gigabits per second (Gbps) through Oracle Cloud Infrastructure (OCI) FastConnect.
Available in Los Angeles, Chicago, and Northern Virginia data centers, this advancement enables customers to leverage OCI locally, supporting AI and data-intensive applications. The enhanced OCX capabilities allow businesses to provision on-demand, secure bandwidth to OCI with virtual connections up to 50 Gbps, facilitating rapid workload migration between multiple public clouds.
CoreSite's data center campuses in these markets are certified as part of the NVIDIA DGX-Ready Data Center Program, offering network-dense, cloud-connected facilities that enable IT modernization while reducing operational costs.
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