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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.
CoreSite, a subsidiary of American Tower Corporation (NYSE: AMT), announces its partnership with Bullseye Locations' RevBase, leveraging CoreSite’s secure colocation solution at the Boston data center (BO1). This collaboration facilitates affordable, web-based marketing asset management software for customers, ensuring uptime and security for marketing resources. CoreSite's dedicated team supports Bullseye's IT requirements, enhancing operational efficiency through their software-defined service delivery platform.
American Tower Corporation (NYSE: AMT) and Stonepeak have announced a strategic partnership where Stonepeak will acquire a 29% stake in American Tower's U.S. data center business for $2.5 billion, resulting in an enterprise value of approximately $10.5 billion for the business. American Tower will maintain operational control while Stonepeak gains governance rights. This partnership aims to capitalize on the demand for low-latency IT solutions across 27 data centers in key U.S. markets. The transaction is expected to close in Q3 2022, subject to customary conditions.
American Tower Corporation (NYSE: AMT) will release its second quarter 2022 results at 7:00 a.m. ET on July 28, 2022. A conference call will follow at 8:30 a.m. ET to discuss these financial results. Interested parties can join by dialing (877) 692-8955 for U.S. callers or (234) 720-6979 for international participants, using access code 4520199. A replay of the call will be available from 12:30 p.m. ET on July 28 until August 11, 2022. American Tower operates a vast portfolio of approximately 221,000 communication sites and U.S. data centers.
Arrcus, a leader in core-to-edge infrastructure, announced that CoreSite has deployed its Connected Edge (ACE) Multi-Cloud Networking (MCN) solution.
This deployment enhances CoreSite’s Open Cloud Exchange® (OCX), automating provisioning functionality within major cloud platforms like AWS and Microsoft Azure. The ACE MCN solution went live in May 2022, expanding to eight markets and improving network performance, security, and economics for users.
CoreSite, a hybrid IT solutions provider and subsidiary of American Tower Corporation (NYSE: AMT), has announced its expansion into Atlanta and Orlando. This involves integrating three American Tower assets into CoreSite's data center ecosystem, adding over 250,000 square feet of data center space. The facilities will enhance interconnection solutions and offer access to CoreSite's Open Cloud Exchange for secure connections with major cloud service providers. This expansion increases CoreSite's total to 27 data centers in 10 markets, providing a stronger infrastructure for businesses needing reliable connectivity.
American Tower Corporation (NYSE: AMT) has priced its public offering of 8,350,000 shares at
American Tower Corporation (NYSE: AMT) announced plans to offer 8,350,000 shares of common stock in a public offering connected to financing the acquisition of CoreSite Realty Corporation, finalized in December 2021. The company also plans to grant underwriters an option for an additional 835,000 shares. Proceeds from the offering will be used to repay existing debt under a $3.0 billion unsecured term loan linked to the acquisition. J.P. Morgan leads the offering, with several banks acting as joint managers.
American Tower Corporation (NYSE: AMT) has joined the United Nations Global Compact (UNGC) and adopted the Women's Empowerment Principles to enhance its commitment to sustainability, human rights, and gender equality. CEO Tom Bartlett emphasized the integration of these principles into company culture and operations. American Tower has invested approximately $300 million in energy-efficient solutions, including solar power. The company aims to increase female representation in leadership, achieving 38% on its Board of Directors in 2022. For more details, visit www.americantower.com.
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