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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) announced year-end tax reporting for its 2020 distributions. Key dates include record dates of 04/14/2020, 06/19/2020, and 09/28/2020, with corresponding payment dates of 04/29/2020, 07/10/2020, and 10/16/2020. Cash distributions per share were $1.08, $1.10, and $1.14. Ordinary taxable dividends matched cash distributions across these dates. The tax year showed no unrecaptured section 1250 gains or non-dividend distributions. The quarterly distribution declared on December 3, 2020, will apply to 2021.
Investors should consult tax advisors for specific treatment.
American Tower Corporation (NYSE: AMT) has appointed Kenneth R. Frank to its Board of Directors. Mr. Frank, currently the CEO of Turning Technologies, brings extensive experience from previous leadership positions at Kibo Software, Aptean Software, and Alcatel-Lucent. His history includes executive roles at AT&T Bell Laboratories and BellSouth Telecommunications. American Tower's President Tom Bartlett expressed confidence that Frank's global business experience will significantly benefit the company's ongoing strategies for growth and expansion in the telecommunications sector.
American Tower Corporation (NYSE: AMT) has entered agreements to acquire Telxius Towers, encompassing around 31,000 communication sites in six countries for €7.7 billion (approximately $9.4 billion). The acquisition aims to enhance American Tower's European presence and complement its Latin American portfolio. The transaction is projected to generate about $775 million in property revenue and $390 million in Adjusted EBITDA in the first full year. The deal is expected to be accretive to Consolidated AFFO per Share and is set to close in tranches starting Q2 2021, pending regulatory approvals.
American Tower Corporation (NYSE: AMT) announced CEO Tom Bartlett will deliver a keynote speech at the Citi 2021 Global TMT West Virtual Conference on January 5, 2021, at 12:00 p.m. ET. The event will be accessible via a live webcast on the company's website. American Tower is recognized as one of the largest global REITs and a leading developer of multitenant communications real estate, operating approximately 183,000 communications sites worldwide. For more details, visit www.americantower.com.
American Tower Corporation (NYSE: AMT) has successfully completed its acquisition of InSite Wireless Group, LLC for approximately $3.5 billion, which includes existing debt repayment. This transaction is expected to enhance American Tower's asset portfolio significantly, yielding about $150 million in property revenue and $115 million in gross margin for 2021. CEO Tom Bartlett highlighted the acquisition's immediate accretive nature, aligning with 5G densification efforts and promising long-term growth opportunities in mobile broadband connectivity.
American Tower Corporation (NYSE: AMT) announced that Rod Smith, EVP, CFO, and Treasurer, will present at the UBS Global TMT Virtual Conference on December 7, 2020, at 12:05 p.m. ET. This event highlights American Tower's significant role as a leading global real estate investment trust (REIT), managing over 181,000 communications sites. A live audio webcast link will be available on the Company's website for those interested in the presentation.
American Tower Corporation (NYSE: AMT) announced that Ed Knapp, Senior Vice President and Chief Technology Officer, will present at the BCG and New Street Research 5G Virtual Conference on November 17, 2020, at 9:10 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 multitenant communications real estate, boasting over 181,000 communications sites globally. For further information about the company, visit www.americantower.com.
American Tower Corporation (NYSE: AMT) has announced that Rod Smith, Executive Vice President and CFO, will present at Nareit’s REITworld: 2020 Virtual Investor Conference on November 18, 2020, at 9:30 a.m. ET. The event will include a live audio webcast available on the company's website. American Tower is a leading independent owner and operator of multitenant communications real estate, boasting a portfolio of over 181,000 communications sites globally. For more details, please visit www.americantower.com.
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