Welcome to our dedicated page for American Tower news (Ticker: AMT), a resource for investors and traders seeking the latest updates and insights on American Tower stock.
American Tower Corporation reports developments tied to its role as a global REIT that owns, operates and develops multitenant communications real estate. Recurring updates cover property revenue, leasing demand across tower assets, leverage, capital allocation, REIT distributions and presentations to communications, media and technology investors.
Company news also includes CoreSite, American Tower's U.S. data center business, where updates focus on interconnected data center services, the Open Cloud Exchange® platform, Ethernet Virtual Circuits, cloud and peering connectivity, internet exchanges and demand from hybrid-cloud, AI and high-performance computing workloads.
CoreSite, a subsidiary of American Tower (NYSE: AMT), released its 2022 State of the Data Center Report, showcasing trends in IT infrastructure modernization. Key findings reveal that 84% of CIOs are shifting content delivery applications to colocation facilities, highlighting its advantages in stability and costs. The study indicates a significant shift towards multicloud infrastructures, with 96% of surveyed leaders expecting direct connections to major cloud providers.
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.
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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 $256.00 each, with an option for underwriters to purchase up to 835,000 additional shares. The net proceeds are estimated at approximately $2,083.5 million, or $2,291.9 million if the over-allotment is fully exercised. Funds will primarily be used to repay existing debt from a $3.0 billion term loan related to the acquisition of CoreSite Realty Corporation, finalized in December 2021.
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.