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), 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.
American Tower Corporation (NYSE: AMT) announced that its CEO, Tom Bartlett, will present at Citi’s AppsEconomy Conference on January 5, 2022, at 12:00 p.m. ET. The presentation will be accessible via a live audio webcast on the company’s website. As one of the largest global REITs, American Tower operates a portfolio of approximately 219,000 communications sites and has a robust footprint of U.S. data center facilities. For more details, visit www.americantower.com.
American Tower Corporation (NYSE: AMT) has successfully completed its acquisition of CoreSite Realty Corporation (NYSE: COR) following a tender offer for CoreSite's outstanding shares. The acquisition was financed through borrowings under American Tower’s credit facilities and term loans. CEO Tom Bartlett expressed optimism about leveraging CoreSite's data centers to enhance growth opportunities amidst the rise of 5G and cloud services. The acquisition is expected to be modestly accretive to American Tower’s AFFO per Share initially, with potential for increased accretion over time.
American Tower Corporation (NYSE: AMT) announced the expiration of its tender offer for CoreSite Realty Corporation (NYSE: COR) shares, completing the acquisition via a merger with its subsidiary, Appleseed Merger Sub LLC. The tender offer, which ended on December 27, 2021, resulted in 31,443,126 shares tendered, accounting for approximately 71.15% of CoreSite's outstanding shares. CoreSite will merge into American Tower on December 28, 2021, with its shares ceasing to trade on the NYSE. Each CoreSite share will convert to $170.00 in cash, matching the tender offer price.
American Tower Corporation (NYSE: AMT) has appointed Teresa H. Clarke to its Board of Directors. Clarke, who is also the Chair of Africa.com LLC and a former Managing Director at Goldman Sachs, is expected to bring valuable insights from her extensive experience in finance and public policy. In addition, the company declared a quarterly cash distribution of $1.39 per share, payable on January 14, 2022, to stockholders of record as of December 27, 2021.
American Tower Corporation (NYSE: AMT) has announced that Rod Smith, the Executive Vice President and Chief Financial Officer, will present at the UBS Global TMT Conference on Monday, December 6, 2021, at 10:00 a.m. ET. The presentation will be available via a live webcast on the company's website. American Tower is a leading global REIT, operating approximately 219,000 communications sites.
American Tower Corporation (NYSE: AMT) has launched a tender offer for all outstanding shares of CoreSite Realty Corporation (NYSE: COR), proposing $170.00 per share in cash. This move is part of a merger agreement announced on November 15, 2021. The tender offer will expire on December 27, 2021, unless extended, and is contingent upon acquiring a majority of CoreSite's shares. The CoreSite board recommends that shareholders accept the offer. Details regarding the tender offer and related documents are available from the SEC and other sources.
American Tower Corporation (NYSE: AMT) announced that Rod Smith, its Executive Vice President and CFO, will present at the Wells Fargo 5th Annual TMT Summit on Wednesday, December 1, 2021, at 8:40 a.m. ET. The presentation will be available via live webcast on the Company’s website. American Tower is a leading independent owner and operator of multitenant communications real estate, boasting a portfolio of approximately 219,000 communications sites globally.
American Tower announced its acquisition of CoreSite Realty for $170.00 per share, totaling approximately $10.1 billion including debt. The merger aims to enhance American Tower’s offerings in the evolving 5G landscape, accelerating growth in mobile edge computing. CoreSite has shown impressive financials with $655 million in annual revenue and strong EBITDA margins, and has experienced double-digit growth over five years. The deal is expected to close by the end of 2021, proving accretive to American Tower’s AFFO initially and more so over time.