Analyst Report: American Tower Corp.

Summary

American Tower operates wireless and broadcast communications real estate, including wireless towers, distributed antenna systems, and managed rooftop systems. The company leases multitenant space to wireless service providers and radio and television broadcasters. At the end of 1H24, AMT had about 224,000 towers and small cell systems networks with 19% in the U.S. and Canada; 34% in APAC; 11% in Africa; 14% in Europe; and 21% in Latin America. International tenants and pass-through relationships accounted for about 46% of current property revenues, while data centers accounted for 8%. At the end of 2021, AMT expanded into data centers with the acquisition of CoreSite, a hybrid IT provider with 25 interconnected data centers in the U.S. The REIT currently owns a 72% share of CoreSite. T

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