American Tower Corp Stock Price, News & Analysis

CoreSite, a subsidiary of American Tower Corporation (NYSE: AMT), announced the launch of IBM Cloud Direct Link Connect, enhancing connectivity options for its clients. This service offers seamless, low-latency connections to IBM Cloud resources, enabling scalable hybrid IT architectures and significant cost savings of over 70% on data transfer. A new 10 Gbps connection was established in Los Angeles, with further expansions planned in Denver and Northern Virginia. This initiative aims to optimize data migration, backup, and disaster recovery capabilities for CoreSite's customers.

CoreSite, a subsidiary of American Tower (NYSE: AMT), has received approval from Santa Clara’s Planning Commission to build the SV9 data center, featuring 34 megawatts of capacity and 200,000 square feet. This new facility will enhance CoreSite's Silicon Valley presence, joining existing data centers (SV3 to SV8). The campus serves major tech firms by improving application performance and reducing costs through a robust ecosystem of cloud providers, including AWS and Google Cloud. Construction is expected to finish in 2023, with preleasing available now.

American Tower Corporation (NYSE: AMT) reported strong financial results for Q4 and FY 2021. Total revenue for Q4 reached $2,445 million, a 15.2% increase, while FY revenue was $9,357 million, up 16.4%. Net income for Q4 rose 22.0% to $441 million, and for FY it increased 51.8% to $2,568 million. Adjusted EBITDA grew by 10.2% to $1,515 million in Q4 and 16.0% to $5,983 million for FY. The company also announced a dividend increase and strategic acquisitions aimed at enhancing future growth.

CoreSite, a subsidiary of American Tower (NYSE: AMT), has announced enhancements to its MyCoreSite customer service platform aimed at improving the customer experience and operational agility. Key features include 24/7 access to interconnection solutions via the CoreSite Open Cloud Exchange, enabling dynamic configuration of bandwidth from 50 Mbps to 100 Gbps. Additional improvements focus on user navigation, case resolution visibility, and enhanced profile management. These upgrades are part of CoreSite's commitment to innovation, ensuring customers remain competitive in a rapidly changing market.

American Tower Corporation (NYSE: AMT) will announce its fourth quarter and full year 2021 results on February 24, 2022, at 7:00 a.m. ET. A conference call to discuss these results is scheduled for 8:30 a.m. ET the same day. Investors can join the call by dialing (877) 692-8955 in the U.S. or (234) 720-6979 internationally. An audio replay will be available from February 24, 2022, 11:30 a.m. ET to March 10, 2022, 11:59 p.m. ET. More details can be found on their website.

American Tower Corporation (NYSE: AMT) announced year-end tax reporting information for its 2021 distributions. Stockholders are encouraged to consult personal tax advisors regarding their specific tax treatment. For tax year ending December 31, 2021, no unrecaptured section 1250 gains or non-dividend distributions were reported. The release includes details of cash distributions and taxable dividends per share, highlighting the company's ongoing commitment to keep shareholders informed about their financial entitlements.

CoreSite Realty Corporation, a subsidiary of American Tower, announced tax reporting information for its 2021 distributions. Following the acquisition by American Tower on December 28, 2021, CoreSite's shares ceased trading on the NYSE. Stockholders are advised to consult tax advisors regarding their specific tax treatment. For the year, CoreSite reported cash distributions per share, including ordinary taxable dividends and capital gain distributions, emphasizing that there were no non-dividend distributions for the tax year ending December 28, 2021.

CoreSite, a subsidiary of American Tower (NYSE: AMT), has partnered with Zenlayer to enhance global connectivity. The alliance enables CoreSite customers to utilize Zenlayer's Cloud Networking and Bare Metal Cloud services, facilitating rapid deployment of applications worldwide. This collaboration opens access to high growth markets in Asia-Pacific, Latin America, and Africa, allowing businesses to reduce latency and improve operational efficiency.

CoreSite, a subsidiary of American Tower (NYSE: AMT), announced the appointment of new senior leadership aimed at fostering accelerated growth. Juan Font takes the helm as President, with over 20 years in management and operations. He will steer the company as a standalone entity under U.S. Tower. The new leadership team includes seasoned executives overseeing areas like Data Center Operations, Sales and Marketing, and IT. Font emphasized the importance of adapting to the convergence of wireline and wireless networks, especially with the rise of 5G technology, to support customers' digital transformation strategies.