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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) will have its President and CEO, Tom Bartlett, present at Nareit’s REITweek: 2021 Virtual Investor Conference on June 9, 2021, at 10:15 a.m. ET. The presentation will be accessible via a live audio webcast on the company's official website. American Tower is a major global REIT, owning and operating around 214,000 communications sites, establishing itself as a leader in multitenant communications real estate.
American Tower Corporation (NYSE: AMT) has successfully completed the acquisition of over 7,000 communications sites in Brazil, Peru, Chile, and Argentina from Telxius Towers for approximately €0.9 billion ($1.1 billion). Funded through cash reserves and credit facilities, this acquisition is expected to generate around $70 million in property revenue and $40 million in gross margin for the remainder of 2021. The deal enhances American Tower's position in Latin America, leveraging partnerships with Telefónica to facilitate growth in mobile broadband connectivity.
American Tower Corporation (NYSE: AMT) has completed the first tranche of its Telxius Towers acquisition for approximately €6.2 billion ($7.6 billion). This includes nearly 20,000 communications sites located in Germany and Spain. The funding was secured through cash and credit facilities. Approximately 4,000 additional rooftop sites are anticipated to close in Q3 2021. The acquisition is projected to generate around $280 million in property revenue and $145 million in gross margin for the remainder of 2021, enhancing American Tower's position in the rapidly growing 5G market.
American Tower Corporation (NYSE:AMT) announced that Rod Smith, its CFO, will present at the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 24, 2021, at 10:15 a.m. ET. A live audio webcast will be accessible on the company's website. American Tower is a leading independent owner and operator of approximately 187,000 communications sites worldwide. This event highlights the company's influence in the real estate investment trust sector and its commitment to engaging with investors through significant conferences.
American Tower Corporation (NYSE: AMT) announced that Igor Khislavsky, Vice President of Investor Relations, will present at the Moffett Nathanson 8th Annual Media & Communications Summit on May 12, 2021, at 2:00 p.m. ET. The event will be available via a live audio webcast on the company's website. As one of the largest global REITs, American Tower operates approximately 187,000 communications sites, focusing on multitenant communications real estate development.
American Tower Corporation (NYSE: AMT) has priced its registered public offering of 9,000,000 shares of common stock at $244.75 each, up from an earlier announced 8,500,000 shares. The offering's expected net proceeds are approximately $2,147.1 million, or $2,361.8 million if underwriters opt for additional shares. Funds are intended for the Telxius acquisition and related expenses. If the acquisition fails, proceeds will repay debt and cover general corporate usage. BofA Securities leads the underwriting team.
American Tower Corporation (NYSE: AMT) plans to offer 8,500,000 shares of its common stock to finance its acquisition of Telxius Telecom's European and Latin American tower divisions, totaling approximately 31,000 communications sites. An additional 850,000 shares may be offered to cover over-allotments. The proceeds will support the Telxius transaction and associated costs, or if not completed, to reduce debt and for general purposes. BofA Securities leads the offering management.
American Tower Corporation (NYSE: AMT) has entered a strategic partnership with Caisse de dépôt et placement du Québec (CDPQ), involving a €1.6 billion transaction for a 30% stake in ATC Europe. This partnership values ATC Europe at over €8.8 billion and allows American Tower to maintain operational control while CDPQ gains governance rights. The collaboration aims to leverage long-term wireless growth trends, particularly in 5G, enhancing ATC Europe's portfolio to nearly 30,000 sites. The deal is expected to close in Q3 2021, pending regulatory approvals.
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