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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) 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.
American Tower Corporation (NYSE: AMT) reported Q1 2021 financial results, showcasing total revenue of $2,159 million, an 8.3% increase year-over-year. Highlights include net income of $652 million, up 55.8%, and Consolidated AFFO per Share reaching $2.52, a 24.1% growth. The company plans to close its Telxius Towers acquisition, enhancing its European presence. With a strong 5G momentum and significant capital expenditures of $335 million, American Tower is positioned for sustained growth and robust cash flows.
American Tower Corporation (NYSE: AMT) will announce its first quarter 2021 results on April 29, 2021, at 7:00 a.m. ET, followed by a conference call at 8:30 a.m. ET. The call can be accessed at (877) 692-8955 for U.S./Canada and (234) 720-6979 for international callers. An audio replay will be available from April 29, 2021, 11:30 a.m. ET to May 13, 2021, 11:59 p.m. ET. American Tower is a major player in the global REIT sector, operating approximately 186,000 communications sites.
American Tower and DISH Network have entered into a master lease agreement allowing DISH to lease space on up to 20,000 American Tower communications sites. This partnership supports DISH's development of a nationwide 5G network, enhancing American Tower's long-term growth. Cash lease payments will begin in 2022 and increase over time as DISH's network expands. The agreement also includes options for DISH to lease shared generators and utilize American Tower's construction services.
American Tower Corporation (NYSE: AMT) announced the appointment of Sanjay Goel as Executive Vice President and President of the Asia-Pacific region, effective March 16, 2021. He succeeds Amit Sharma, who will become Chairman of the Asia-Pacific region and Special Advisor to the CEO until his retirement on July 1, 2021. Goel joins from Nokia, where he oversaw global operations across 100+ countries, bringing over 30 years of leadership experience. American Tower operates approximately 186,000 communications sites globally, solidifying its position as a leading independent communications infrastructure provider.
American Tower Corporation (NYSE: AMT) will have Tom Bartlett, President and CEO, presenting at the Citi 2021 Virtual Global Property CEO Conference on March 10, 2021, at 10:30 a.m. ET. The presentation will be available as a live audio webcast on the company's website. American Tower is recognized as a leading independent owner and operator of multitenant communications real estate, boasting a portfolio of approximately 186,000 communications sites globally.
American Tower Corporation (NYSE: AMT) announced that Rod Smith, the Executive Vice President and CFO, will present at the Deutsche Bank 29th Annual Media, Internet, and Telecom Conference on March 8, 2021, at 9:00 a.m. ET. A live audio webcast will be accessible on the company's website. American Tower is a leading global REIT, owning and operating around 186,000 communications sites, specializing in multitenant communications real estate.
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