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.
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.
American Tower Corporation (AMT) announced it will acquire CoreSite Realty Corporation (COR) for $170 per share in cash, totaling approximately $10.1 billion, including debt repayment. This strategic move aims to create a comprehensive communications real estate platform, enhancing the companies' positions in the growing 5G market. CoreSite’s strong performance, with annual revenue of $655 million and an EBITDA of $343 million, coupled with American Tower's global reach, is expected to accelerate growth and broaden service offerings. The transaction is projected to close by the end of 2021.
American Tower Corporation (NYSE: AMT) announces that Olivier Puech, Executive Vice President, will present at the Morgan Stanley European Technology, Media & Telecom Conference on November 17, 2021, at 1:15 p.m. ET. This event 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, specializing in multitenant communications real estate.
American Tower Corporation (NYSE: AMT) announced that its Senior Vice President and Chief Technology Officer, Ed Knapp, will present at the BCG and New Street Research 5G Conference on November 15, 2021, at 1:40 p.m. ET. This virtual presentation highlights the company's innovations in multitenant communications real estate, which includes a robust portfolio of approximately 219,000 communications sites. A live audio webcast will be accessible via the company’s website.
American Tower reported robust financial results for Q3 2021, with total revenue up 21.9% to $2,454 million. Property revenue rose 19.2% to $2,369 million, and net income surged 56.9% to $726 million. Adjusted EBITDA increased 19.5% to $1,552 million. The company declared a 14.9% year-over-year growth in cash distributions per share to $1.31. With strong demand from carrier investments and continued 5G deployment, American Tower is optimistic about its growth trajectory and expansion opportunities.
American Tower Corporation (NYSE: AMT) has adopted science-based targets (SBTs) approved by the Science Based Targets initiative, aiming to substantially reduce greenhouse gas (GHG) emissions. The company targets a minimum of 40% reductions in direct scope 1 and indirect scope 2 emissions by 2035 compared to a 2019 baseline, alongside a similar target for scope 3 supply chain emissions. CEO Tom Bartlett emphasized that these goals reflect American Tower’s commitment to sustainability and climate change mitigation.