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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 Corporation (NYSE: AMT) announced senior management changes effective January 1, 2023. Ed DiSanto will step down as Executive Vice President, Chief Administrative Officer, General Counsel, and Secretary, a position he has held since 2007. Ruth Dowling, with over ten years at American Tower, will succeed him in this role. DiSanto will transition to a new position as Executive Vice President, Special Advisor and Counsel to the CEO. This change comes as American Tower continues its growth strategy, expanding its footprint to nearly 222,000 communications sites across 25 markets.
American Tower Corporation (NYSE: AMT) announced that Ed Knapp, Senior Vice President and Chief Technology Officer, will present at the Citi Global Digital Infrastructure Seminar on Monday, October 3, 2022, at 10:50 a.m. ET. The seminar will be accessible via live webcast and replay on American Tower's Investor Relations website. American Tower, a leader in multitenant communications real estate, maintains approximately 222,000 communications sites and a network of U.S. data center facilities, highlighting its significant role in digital infrastructure.
CoreSite, a subsidiary of American Tower (NYSE: AMT), has acquired a 103,000-square-foot data center (MI2) in Doral, Florida, expanding its Miami market presence. The new facility, designed to withstand a Category 5 hurricane, will connect with CoreSite's existing MI1 data center, enhancing IT infrastructure options for businesses. This expansion aims to support growth in the Miami market, providing scalable connectivity to North and South America. CoreSite's total Miami campus will now encompass nearly 150,000 square feet, featuring advanced interconnection options to accelerate digital transformation for clients.
American Tower Corporation (NYSE: AMT) announced its participation in two upcoming investor conferences. On September 13, 2022, at 10:45 AM PT, Rod Smith, CFO, will host a fireside chat at the Goldman Sachs Communacopia + Technology Conference. Following that, on September 14, 2022, at 3:40 PM ET, Adam Smith, Senior VP of Investor Relations, will participate in the BofA Securities 2022 Global Real Estate Conference. Live webcasts will be available on the company's Investor Relations page.
American Tower Corporation (NYSE: AMT) and Verizon Communications Inc. (NYSE, Nasdaq: VZ) have signed a new lease agreement aimed at enhancing Verizon's 5G network deployment across American Tower's U.S. communications sites. This multi-year partnership streamlines the leasing process, promoting mutual growth and efficiency. Steve Vondran, President of U.S. Tower Division at American Tower, highlighted the strategic importance of this agreement to support Verizon's network expansion, emphasizing their long-term collaborative relationship.
CoreSite, a subsidiary of American Tower (NYSE: AMT), has partnered with Adela Technologies to enhance digital journeys and cloud technologies through a highly secure colocation environment. Adela, a managed security service provider, will utilize CoreSite’s hybrid IT solutions, including compliant colocation and native cloud connectivity, to support its diverse clientele, including the Department of Defense. The collaboration aims to simplify workload management and optimize digital transformation efforts for clients.
American Tower Corporation (NYSE: AMT) announced its participation in two upcoming investor conferences on August 9, 2022. The events include the KeyBanc Capital Markets Technology Leadership Forum, where Ed Knapp, Senior Vice President and CTO, will host a fireside chat at 10:00 AM MT, and the Cowen 8th Annual Communications Infrastructure Summit, featuring Steve Vondran, Executive VP and President of U.S. Tower, at 11:10 AM MT. Live webcasts will be available on the company’s Investor Relations page.
American Tower Corporation (AMT) reported robust financial results for Q2 2022, with total revenue up 16.3% to $2,674 million and net income rising 19.1% to $891 million. Property revenue increased by 17.1% to $2,615 million, and adjusted EBITDA reached $1,671 million, a 13.2% rise. The company declared a cash distribution of $1.43 per share, reflecting a year-over-year growth of 12.6%. Despite foreign exchange challenges, AMT raised its outlook for Attributable AFFO per Share and executed a strategic partnership with Stonepeak, aiming for sustainable growth and enhanced shareholder value.
CoreSite, a subsidiary of American Tower (NYSE: AMT), announces executive appointments to the Data Center Coalition (DCC). This initiative aims to advocate for the data center industry by improving the business climate and policy support. CoreSite's presence in 10 key U.S. markets reflects its commitment to the sector. Notable appointments include Matt Gleason to the DCC board and other executives in various committees. The DCC's mission focuses on educating officials about the economic benefits of data centers, showcasing CoreSite's leadership in promoting data center interests.
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