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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) announces that Olivier Puech, Executive Vice President, will present at the Morgan Stanley European Technology, Media & Telecom Conference on November 17, 2021, at 1:15 p.m. ET. This event will be available via a live webcast on the Company’s website. American Tower is a leading global REIT, operating approximately 219,000 communications sites, specializing in multitenant communications real estate.
American Tower Corporation (NYSE: AMT) announced that its Senior Vice President and Chief Technology Officer, Ed Knapp, will present at the BCG and New Street Research 5G Conference on November 15, 2021, at 1:40 p.m. ET. This virtual presentation highlights the company's innovations in multitenant communications real estate, which includes a robust portfolio of approximately 219,000 communications sites. A live audio webcast will be accessible via the company’s website.
American Tower reported robust financial results for Q3 2021, with total revenue up 21.9% to $2,454 million. Property revenue rose 19.2% to $2,369 million, and net income surged 56.9% to $726 million. Adjusted EBITDA increased 19.5% to $1,552 million. The company declared a 14.9% year-over-year growth in cash distributions per share to $1.31. With strong demand from carrier investments and continued 5G deployment, American Tower is optimistic about its growth trajectory and expansion opportunities.
American Tower Corporation (NYSE: AMT) has adopted science-based targets (SBTs) approved by the Science Based Targets initiative, aiming to substantially reduce greenhouse gas (GHG) emissions. The company targets a minimum of 40% reductions in direct scope 1 and indirect scope 2 emissions by 2035 compared to a 2019 baseline, alongside a similar target for scope 3 supply chain emissions. CEO Tom Bartlett emphasized that these goals reflect American Tower’s commitment to sustainability and climate change mitigation.
American Tower Corporation (NYSE: AMT) has successfully completed the redemption of its outstanding 4.70% senior unsecured notes due 2022. The notes were redeemed at 101.7270% of their principal amount, totaling approximately $715.1 million, which includes $3.0 million in accrued interest. This redemption was financed with cash on hand, and following this action, there are no remaining 4.70% notes outstanding.
American Tower Corporation (NYSE: AMT) will release its third quarter 2021 results on October 28, 2021, at 7:00 a.m. ET. A conference call to discuss the results is scheduled for 8:30 a.m. ET on the same day. Investors can dial in at (877) 692-8955 (U.S./Canada) or (234) 720-6979 (International) with access code 8072944. A replay will be available from October 28, 2021, at 11:30 a.m. ET until November 11, 2021, at 11:59 p.m. ET. For more details, visit American Tower's investor relations page.
American Tower Corporation (NYSE: AMT) announces that Olivier Puech, Executive VP and President of Latin America and EMEA, will present virtually at the 2021 RBC Capital Markets Global Tower and Wireless Infrastructure Summit. The event is scheduled for Tuesday, September 28, 2021, at 4:00 p.m. ET. A live webcast link will be available on the Company’s website. American Tower is a leading REIT with over 214,000 communications sites globally.
American Tower Corporation (NYSE: AMT) announced that its CEO Tom Bartlett will present virtually at the Goldman Sachs 30th Annual Communacopia Conference on September 22, 2021, at 9:40 a.m. ET. The event will feature a live webcast available on the company's website.
As one of the largest global REITs, American Tower operates a vast portfolio exceeding 214,000 communications sites, reinforcing its leadership in the multitenant communications real estate sector.
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