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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 (NYSE: AMT), has upgraded its Boston data center's cooling system, which is expected to save nearly eight million kilowatt-hours annually. This energy-efficient chiller plant enhances power usage effectiveness (PUE) and supports customer-specific cooling requirements. With 253,000 square feet of space, the BO1 facility provides low-latency connectivity to financial, technological, and educational sectors, featuring direct cloud onramps to AWS and Microsoft Azure.
American Tower Corporation (NYSE: AMT) has elected Kelly C. Chambliss to its Board of Directors. Chambliss, currently Senior Vice President and COO of IBM Consulting, brings extensive experience from her previous leadership roles at IBM and CoreSite Realty Corporation. Tom Bartlett, CEO of American Tower, expressed enthusiasm about her expertise in global services and the data center industry, which aligns with the company’s growth strategy. Additionally, the Board declared a quarterly cash distribution of $1.40 per share, payable on April 29, 2022.
American Tower Corporation (NYSE: AMT) announced that Rod Smith, Executive Vice President and CFO, will present at the Deutsche Bank 30th Annual Media, Internet and Telecom Conference in Palm Beach, Florida, on Monday, March 14, 2022, at 9:35 a.m. ET. The event will feature a live audio webcast available on the company's website.
American Tower is a leading global REIT with over 220,000 communications sites and a strong presence in U.S. data center facilities. For more details, visit www.americantower.com.
CoreSite, a subsidiary of American Tower Corporation (NYSE: AMT), announced its support for a multinational aerospace and defense company transitioning from an obsolete data center. The move to CoreSite's Northern Virginia facility will enhance efficiency and security with diverse fiber connectivity and direct cloud access. CoreSite’s hybrid IT solutions feature 100% renewable energy and meet stringent security requirements, positioning the company as a key player in the government and defense sectors.
CoreSite, a subsidiary of American Tower Corporation (NYSE: AMT), announced the launch of IBM Cloud Direct Link Connect, enhancing connectivity options for its clients. This service offers seamless, low-latency connections to IBM Cloud resources, enabling scalable hybrid IT architectures and significant cost savings of over 70% on data transfer. A new 10 Gbps connection was established in Los Angeles, with further expansions planned in Denver and Northern Virginia. This initiative aims to optimize data migration, backup, and disaster recovery capabilities for CoreSite's customers.
CoreSite, a subsidiary of American Tower (NYSE: AMT), has received approval from Santa Clara’s Planning Commission to build the SV9 data center, featuring 34 megawatts of capacity and 200,000 square feet. This new facility will enhance CoreSite's Silicon Valley presence, joining existing data centers (SV3 to SV8). The campus serves major tech firms by improving application performance and reducing costs through a robust ecosystem of cloud providers, including AWS and Google Cloud. Construction is expected to finish in 2023, with preleasing available now.
American Tower Corporation (NYSE: AMT) reported strong financial results for Q4 and FY 2021. Total revenue for Q4 reached $2,445 million, a 15.2% increase, while FY revenue was $9,357 million, up 16.4%. Net income for Q4 rose 22.0% to $441 million, and for FY it increased 51.8% to $2,568 million. Adjusted EBITDA grew by 10.2% to $1,515 million in Q4 and 16.0% to $5,983 million for FY. The company also announced a dividend increase and strategic acquisitions aimed at enhancing future growth.
CoreSite, a subsidiary of American Tower (NYSE: AMT), has announced enhancements to its MyCoreSite customer service platform aimed at improving the customer experience and operational agility. Key features include 24/7 access to interconnection solutions via the CoreSite Open Cloud Exchange, enabling dynamic configuration of bandwidth from 50 Mbps to 100 Gbps. Additional improvements focus on user navigation, case resolution visibility, and enhanced profile management. These upgrades are part of CoreSite's commitment to innovation, ensuring customers remain competitive in a rapidly changing market.
American Tower Corporation (NYSE: AMT) will announce its fourth quarter and full year 2021 results on February 24, 2022, at 7:00 a.m. ET. A conference call to discuss these results is scheduled for 8:30 a.m. ET the same day. Investors can join the call by dialing (877) 692-8955 in the U.S. or (234) 720-6979 internationally. An audio replay will be available from February 24, 2022, 11:30 a.m. ET to March 10, 2022, 11:59 p.m. ET. More details can be found on their website.
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