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 successfully completed the acquisition of over 7,000 communications sites in Brazil, Peru, Chile, and Argentina from Telxius Towers for approximately €0.9 billion ($1.1 billion). Funded through cash reserves and credit facilities, this acquisition is expected to generate around $70 million in property revenue and $40 million in gross margin for the remainder of 2021. The deal enhances American Tower's position in Latin America, leveraging partnerships with Telefónica to facilitate growth in mobile broadband connectivity.
American Tower Corporation (NYSE: AMT) has completed the first tranche of its Telxius Towers acquisition for approximately €6.2 billion ($7.6 billion). This includes nearly 20,000 communications sites located in Germany and Spain. The funding was secured through cash and credit facilities. Approximately 4,000 additional rooftop sites are anticipated to close in Q3 2021. The acquisition is projected to generate around $280 million in property revenue and $145 million in gross margin for the remainder of 2021, enhancing American Tower's position in the rapidly growing 5G market.
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American Tower Corporation (NYSE:AMT) announced that Rod Smith, its CFO, will present at the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 24, 2021, at 10:15 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 approximately 187,000 communications sites worldwide. This event highlights the company's influence in the real estate investment trust sector and its commitment to engaging with investors through significant conferences.
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American Tower Corporation (NYSE: AMT) announced that Igor Khislavsky, Vice President of Investor Relations, will present at the Moffett Nathanson 8th Annual Media & Communications Summit on May 12, 2021, at 2:00 p.m. ET. The event will be available via a live audio webcast on the company's website. As one of the largest global REITs, American Tower operates approximately 187,000 communications sites, focusing on multitenant communications real estate development.
American Tower Corporation (NYSE: AMT) has priced its registered public offering of 9,000,000 shares of common stock at $244.75 each, up from an earlier announced 8,500,000 shares. The offering's expected net proceeds are approximately $2,147.1 million, or $2,361.8 million if underwriters opt for additional shares. Funds are intended for the Telxius acquisition and related expenses. If the acquisition fails, proceeds will repay debt and cover general corporate usage. BofA Securities leads the underwriting team.
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.